It is very hard to source this type from MLS.

@Colleen F.We plan on shifting the heat when the lease comes up for renewal each unit has its own heat source.

The only difference is 2 bedroom has great view as it is on top floor.I am a downtown guy, love the energy and the excellent food and clubs around.

Patrick,I don't have any experience in the Texas market outside of tax liens so I would not be a good source for you for what you are looking at, unfortunately.

Once you have the owners name a good free source for contact information is https://www.truepeoplesearch.c.... 

@Adam  Oldhan Still looking for a source where I can see permits on a property before I order an inspector ...

I'd recommend checking out the BiggerPockets Bookstore and checking out the book on investing with little or no money down.Your options will be limited with no capital or credit so I'd also focus on saving $, additional income sources and building your credit.This is a marathon, not a sprint so do not get discouraged if it takes time to narrow your focus down to a specific location, investment strategy or property type. 

Usual is 3x rent, sometimes you see 2.5X rent.Your idea on deposit besides being illegal would be very bad for your units as there would be little justification in them taking care of the unit.Items that we list as mandatory to qualify for our units: No evictions (ever), Verifiable income 3x rent from sources that are at least present for 6 months, Cannot have been in more than 2 residences in previous 5 years, no missed rent payment on credit report, good credit, non smoking/no drugs, about 75% of our units do not allow dogs or cats, strong LL recommendations. 

I've gotten advice from multiple sources, each saying their own pros and cons.

If the deal falls apart earlier in the life of the investment, yes, the capital investor stands to lose much more (and yes--the financial scale of deal matters, as you indicate too).I'm assuming that the "worker" probably has a little financial contribution for skin in the game (say, 5k of a 50k down payment), is also sourcing the deal, swinging the hammer, and listing/property managing for as long as the property is held.