Of #1-3 I prefer #1&2 over #3 as I feel the provider has more "skin in the game" and their compensation is better aligned to yours as the passive investor.

insurance policy is a good way to go.I have been in this game for 40 years and never even came close to sniffing a lawsuit from a tenant.. but of course the very day I say this you get sued..

Spend time on the forums to get a solid grip on the real estate game.

That changes the game a lot...you don't want to move somewhere of course that you hate just for the sake of being able to invest there.

Title III will be a game changer in the real estate space for smaller projects.  

It sounds like you have a solid game plan and are ready to put the rubber to the road.

So townhouse/row houses are pretty much the only game in that neighborhood and those townhomes can go for something in the $300-$600K range.

If you plan on living there first (house hacking), you'll have a great advantage getting started in the game.

We are trying to build a network of hard money lenders who are willing to work with newbies with little skin in the game in Houston, TX.

This property will be delivered with clean title there may be half a years tax's or so but you would take that on.I want this to be a learning experience for the BP community to share with especially newer investors looking to get into the game...