If you plan on using private money funding you'll need a licensed contractors bid to get the loan.

RW or any other experienced commercial real estate brokerage will be a good sounding board for your plan and may have some ideas that have not occured to you yet. 

Oh one more tip, ask specific questions, like who is going to not say “yeah im great with communication” , be wary of this trap too because you want the PMs to focus on doing their jobs rather than answering 20 emails from each investor each week, time is our most valuable resource please don’t take up too much of it, when you say “yes” to something you are also saying “no” to something else (opportunity costs)Questions to ask:- what is the eviction process like after COVID 19 in your city (ask for details and differences beforehand)- what are the city rental regulations, what is the process to obtain a rental license, how would you rate this city compared to surrounding cities on difficulty with this process and working with landlords- how do you handle late fees and payment plans, if a tenant calls and says they’re going to be 5-9 days late but have been on time for 6 months what is your response- if multis - how do you handle tenant conflicts- why do they work in property management and how did they get there- if you could invest in any city in the state where would you and why (I love this question because it will tell you if they know where the most profitable areas are for investors and ROIs and hidden costs)- how is water/water bills handled in this city

He's now planning on purchasing a suite (like Black Eyed Peas) but the return might not be as great the last time we looked at numbers.He obviously enjoys owning since he went and purchased another one years later, and is now looking into a third unit.I'll give you some rough numbers on the smaller unit.

You could possibly do a bridge loan, maybe a 6-12 month term to pull some of the equity and rehab, then sell or refi if you plan to hold.

We have now learned to verify the sq ft of every property we plan to buy.

Do you plan on buying a multi family property because you can't use an FHA mortgage to purchase a single family residence as a rental. 

Are you planning to invest locally in Texas or are you open to investing out-of-state?

These are just a few ways to begin making contacts and learning about the strategies available to you.Once you decide on a strategy, I'd recommend connecting with an investor-friendly lender who will give you an idea of how much you qualify to borrow for your first property.As you progress in this initial research phase, your goals and action plans will become clearer.All the best!

Advise is to get in contact with a lender that has experience in structuring these mortgages where you can move on to the next one and plan ahead.