We have a 225 unit that we're working on as we speak. 

You would need to speak with a smaller lender in order to do what you are asking. 

Not sure if you have this or not but give it a look.Texas property codeScroll down to page 539 that's where Landlord Tenant starts.I cannot speak to Texas, in most jurisdictions if an annual lease was signed and not renewed it goes to month to month.

I would like to add that Marty was very pleasant to speak with.

@Mark AndersonYou need to speak with an accountant.  

EM is the part of all your payments out of pocket: down payment to the seller and closing costs.Most important, someone has to write all the same documents like with the usual mortgage: the note and the mortgage(that the seller entitled to repossess your house in case of default on the note).After everything is ready, the title company will give you HUD-1 or whatever it is for the land contract, where will be $$ you bring to the closing.BTW, seller will credit you with the prorated taxes up to the day of closing.

Account Closed  Check with the people who work the prodesk at homedepot/lowes or attend a local REIA meeting and speak with some investors. 

I don’t think if you go from FHA to conventional there will be much of a difference, if We are speaking on a monthly basis .

Fourth, there are other tax advantages, but I am not a tax professional so I suggest you speak to someone more qualified.

@Will Randolph this may sound obvious, but if you speak with local realtors and property managers they can often give you that data fairly easily.