Building on a lake requires experience with the locale and building regulations.

Previously, I sometimes couldn't get much info from landlords who required a signed authorization. 

What are the requirements for an owner to hold an open house in Texas?  

I'm not aware of any lenders requiring 50% down.

It is not fraud as long as you live in the property as long as the occupancy affidavit in the closing docs require.

Landlords are required to disclose that the property is located in flood prone area and/or the property is known to have been damaged at least once during the 5-year period before the lease.

For owner occupied properties federal law requires lenders to verify the ability to repay by the borrower.

Notice is required along with the description of “just cause”. 

FundingYou will also be required to bring your down payment at closing.

In New York, depending on the deal of course, many properties require 25+% down payments in order to cashflow.