Yes, the Bank will see it, primarily because as a borrower you are required by federal law to disclose the other loan obligations on your application for a mortgage loan with them and if you don't it' a federal offense and a felony in all 50 states.  

Now, all real estate is local, but you better check "local" against state and federal requirements, pitfalls and tax matters before going there. 

Most have told me they only allow up to 2 units, even Navy Federal last time I talked to them...which blew my mind.

If you and your investor are looking for infill areas that have already been developed you can look in the cities CAFR, Comprehensive Annual Financial Report, this has mostly info about the balance sheet for the local government, has a summary section in the beginning that talks alot about the major developments in the city.

Obviously you don't need contents coverage, so if your paying for that, you can drop it.The rates have been going up recently due to changes in the laws that govern the flood insurance.  

I have some questions regarding the ownership of a rental property :- whenever you collect rent, will you have to pay federal income tax on the rents ?

Or they are affiliated with Northwest Federal Credit Union.

It was  like waking up from a hospital nightmare and i have dealt with many houses that has been condemn by the government.

Bartering can be great but for some reason barter for rent ,, just does not workthere was a long thread last week with Nat Chan  she did this .. exchanged rent for painting and it turned into a semi federal case and a Jerry springer show

I cant speak to TX law but federal law, you have to give a lead disclosure form stating whether you know there is lead or not.