Is anyone doing this?

Where is this supposed to be? 

This is a great place to learn and to connect with people so take advantage of all the great resources.

Picking this one back up: Dallas has restricted most short term rentals except for in certain areas as of this past summer. 

well 70% of 455ks isnt much more than you currently owe at 283k the 70% of 455k is 318.5k and after closing items you might only net 20-30k tops (new loan minus current 283k - closing items = net proceeds in "hand.").So The question you should be thinking about is what are my closing items and is this enough cash to accomplish my mission/goal?

Read your PM Agreement to see if this is addressed.

Our counsel previously advised we are legally entitled to a greater amount including all lost rent until the home was re-signed, cost of lock-out, cost to clean up house, physical damage, ect.For context, this is a solid house in a decent neighborhood and we never had prior issues with the tenant. 

I think an alien from outer space could be a wholesler in this country..

Is this worth it?  

Moreover, with this in mind, don't expect significant cash flow (if any at all) depending on your investment strategy.