That's great, but he needs to talk with a lender and I have referred him to a few.

I assume you have low-interest 1st lien mortgages on those properties that you don't want to pay off. 

The the HOA does not have enough funds, a lender may not lend on it.

When I looked him up, I really didn't see where he had a background in it other than perhaps being a mortgage broker. 

SBA lenders are confident the deal is lendable, but SBA rates at prime plus 2.5% are high, and I don't want to risk default.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm not as plugged into primary rates (vs. investor/DSCR) but there are a lot of HELOC / Closed End Seconds out there that are becoming very popular alternatives (especially if you already have a low rate mortgage) instead of full cash-out refinances and jacking up rate on all the debt

If you're planning to buy and hold, you may want to bring in a partner or private lender in on the deal.

Personally prefer SFR..Not sure about DFW but do have a realtor reference for you..be sure to budget for furniture and furnishings if not sold turn-key..a seller concession is a great way to preserve capital for MTR or STR's..check in with @Joseph Chiofalo for an investor friendly lender..he's excellent at helping structure loan programs for investments.

I have spoken to a few lenders since the post and found a few who don't seem to care, or even ask if the work is permitted.