As for piercing the corporate veil - again, not an attorney, but 15yrs experience with this crap. 

If you can manage to find anything that is beat to crap in the H street corridor of DC, or within several blocks of adams morgan, your returns would be incredible there as well. 

However, the fear for me is Austin is the liberal bastion for this state and I absolutely can see some of that crap come here as well.  

If you do conventional first and then try FHA, you're (probably) going to run up against a bunch of crap you can't control (like if you happened to coincidentally get a job transfer 100+ miles away) that will (likely) prevent you from using departing residence rental income, trashing your calculated DTI.Fannie Mae is much more investor friendly than FHA.

It is like giving a dog a biscuit every time it craps on your carpet .

Too many investors spend time reading about crap they may have to know far off in the future they never do a deal in the present.

Not only that, but her crap has taken up one side of the buildings staircase and hallway.  

I'm not taking shots at you, but you need to learn real estate, before trying to follow guru crap and deal making folklore off the internet.

It's a lot more expensive since they don't give a crap about the cost (since they bill you) and it's an "at will" program that has more flexibility thus higher cost. 

This doesn't automatically translate to them actually doing that.While furniture is a benefit, there's a BIG difference between staged furniture and a tenant just leaving crap around the house.