No they won't mind because you're paying them a fee for their services up front.But.....you'd better check your local regulations first before you think you're going to do the work yourself.

To answer the original question: No you cannot keep homestead, you need to update insurance - it's a few hundred more per year if anything and you will continue to be able to keep your property tax deduction until you purchase another home in Texas you would rather apply it to.

Loan gets paid off and that leaves me $150k, the original purchase price of the house.

One with 90+ members is great because it affords the HOA a lot of economies of scale with vendors thereby keeping HOA fees lower.Review the HOA financials and make sure they have a substantial reserve that would cover a hail storm deductible and/or other storm damage.Read the Bylaws to make sure they're rentable and check the pet limitations.Check the common grounds for any big ticket items that may need replaced soon.

I also take an 8% management fee on the properties now - I did not for the first year.

Have the borrower pay for any fees and agree to sign up with the same servicer. 

Those funds are called an option fee.

Originally posted by @Henley H.

Buy another in a year (renting out the 5th bedroom in the original), and repeat over and over for five or six years.

In 99% of cases the seller will pay the buyer's agent share of commission but not a bad idea to ask what happens if we find a property where the seller isn't paying any buyer's commission - in which case if you're working with the agent then you should expect to pay whatever fee you work out with them.