He is honest and knows Texas re law better than many tax attorney.

My landlord/tenant contract states pay rent by the 5th of the month by 5 p.m.

I've taken all the major options to consideration such as book keeping, accounting, taxes, payments, maintenance/trouble calls, price of software etc.At this point, I'm looking for the most balanced option that will best help protect myself and my assets.

That being the case, even with an ADU, I would be paying at least 10k a month for the mortgage and taxes, and then have to get extra funds for the ADU, and I would not have that income for the first while. 

This is the same amount that you can rent in Hutto haha. 2- Even if the rent is higher, you pay way more money for the property (compared to Round Rock or Cedar Park) for just $100-$200 more in rent.

I had quite a bit of money saved up from years of traveling and not really paying any rent as I was staying in hotels and accommodations paid for by my tours.

This sounds like an excellent candidate for a "wrap" or all inclusive deed of trust where you would pay the seller and lender (through a title company or loan servicing company) the new, agreed upon payment based on what terms you negotiate. 

I like KC of course, because low barrier to entry, landlord friendly and generally low taxes.

I want to give him incentives to work with me but I am pretty sure he doesn't want to spend a big sum of money into the property.My idea is to ask him to pay 5% of the property and get 10% of the property.

Holding Costs, what are taxes, are there agriculture exemptions.5.