A good leather collar usually translates to the owner spending more on the pet, quality care, a rhinestone collar for Fefe is another expression of the owner.

Since most private note lenders cannot borrow the funds to make those loans, however, this same concept would likely not translate to a note investment.... and frankly, there are a lot of folks out there who just say "sure, so long as you keep everything property allocated, there is no problem."  

How I translate this into real estate investing: I try to invest not where the market is, but where the market is going to be.

And they should alter the LTV ratio, unless if business sentiment is rapidly improving. 

Red flags include:  "my landlord wants to sell the house"--   "my landlord died"---  "my landlord won't fix anything" --- those are code words for "I'm being evicted for nonpayment".... another one is "the pay stub system is down" ... that actually means "I don't have a job"   you need to learn the basic translator skills of C/D landlording!

The paper copy of the lease agreement states absolutely no alterations of any kind, although verbally I agreed to the tenant painting one of the rooms.

This tenant has uttered the dreaded "I know my rights" statement which translated means : I don't give a dam what you think your rights are as a landlord I intend to make your life as miserable as possible.

Could you recommend a good comprehensive lease agreement specific to Texas that I can also alter and make changes?

I'd say something that would make it more attractive to a family would be school districts, these would drive up costs, but might not translate to much higher rent. 

They include lawful use for residential purposes only, alterations without approval and probably growth of controlled substances.