There are ways to mitigate the costs and protect yourself to the extent possible.

It's the cash you put in that's your cost for the property. 

I'm thinking of doing this myself and trying to determine what this is going to cost me.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

Cost of capital is high right now. 

What are the pros and cons of each, and which offers the least restrictions, flexibility and cost savings for my intended purposes?

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

Also, how much did the electric and plumbing fixes costs?

These traditionally have lower rates than cash-out refinances and will only cover your existing loan amount + closing costs, so you'll need an existing mortgage for this type of loan.4.

Yearly increasing costs will, in time, eat up any profit they have per unit.