what's the holding period  you are looking at. 

I am in the final stages of the due diligence period on a 16 unit complex.

And that I will stay in the house for a period of one year from the date I first move in.Different lenders have different requirements.

I ordered a $197 (might have been $169) course back in 2003 with the intent of sending it back within the 30-day refund period like I did another. 

I would like to think I could get about $200 a more per month total (all units combined) in rents over a short period, but I don't calculate that into my numbers.  

https://www.biggerpockets.com/forums/95/topics/174085-if-you-have-or-need-flood-insurance---fema-raising-fees-and-rates-april-1-2015Keep in mind the increase in fee from $25 to $250 may not show on those units if the flood policy renewal period is between today and March 31 2016.Also, I use some specialty flood programs that do not charge the $250 fee. 

There seem to be some good deals but the only thing that concerns me is that Texas has a "right of redemption" period of up to 2 years.  

After the home has been listed for a period of time, it becomes open to all buyers.  

So keeping the $10,000, charging $200/month above average rent and losing responsibility to maintain the property during the option period is my worst outcome. 

This would be coming from your LLC I assume.The reason I ask is because I know there is a period where you jump to REI full time and are too small to justify loans just based on your experience alone.