I know the HOA fees can eat into your cash flow in some case, but I also know it saves you on cap x due to the fact your not having to deal with roof repairs and things of that nature.

While we have yet to take the dive, the most important thing when weighing these finances is ensuring you have adequate reserves in place as well as having a firm grasp on the numbers you are looking to hit as you analyze properties. 

You don’t have to accept the off the shelf contract as it is biased in favor of those who drafted it—which if you think about it for a second is perfectly natural—but it’s more than fair for them to ask you for a written agreement.

Opportunities for operational value-adds are often caused by shifts in the property’s surrounding business climate, an owner that does not have adequate commercial real estate investment sophistication, or an owner that simply does not have the capital necessary to keep up with maintenance and marketing.An example of this was our investment in Village Park at Palatine, a 1977 vintage, 448-unit apartment community in a high-quality suburb of Chicago.

My question is whether that is a viable strategy in the DFW area given how hot the market is here and the seemingly uncommon nature of 1-4 multifamily properties?

Much of this is attributed to some unique aspects of our market, namely the "landlocked" nature of the county.

In fact not having adequate insurance for an LLC could be a reason for a court to "Pierce" the LLC. **.   

First I would ask yourself what aspect of the business are you best at or have the most natural ability.

If the drain line has enough slope and is draining adequately and there is no air getting to crawl space or basement a pipe shouldn't freeze ,air getting in crawl space  is the culprit  most the time, I here in Nashville  and a plumber.

I am naturally NOT creative and NOT patient so will have to actively work on that haha.