So whenever you have specific questions, share them on the forum and you'll get a lot of answers.

@Paul Baldwin - I have found there are two ways to understand/learn something....find someone who already knows or teach/learn yourself...the later works, but just takes longer and often has room for more errors.There's no true cheat sheet until you have done enough projects in your specific area!

Are there any specific tips or knowledge you could share when speaking to lenders? 

Can the  potential loss in per door revenue be absorbed if the cashflow is not there to cover operating costs for a specific time period?

This is a very niche asset class.

Assessments are with valuations from a specific year.

Yes, reading is great to learn about specific technics, but hands-on application when running alongside guys that are doing it day in and day out is far superior.

Here are some specific questions I have:What would be the best approach for someone like me who is completely new to real estate?

If it’s a homestead, it’s a two-year rights of redemption, this is specific to Texas, I don’t know about other states.

Best thing to do is you should meet with a real estate attorney to go over the specifics of this deal to come up with the best solution to maximize your returns as well as protect you throughout the transaction.