@Cole DobbsIn addition, I may be able to help you and connect you with some key real estate investor players in the Houston, Texas market since I am an Investor myself that have done most of these real estate investing strategies and also an investor-broker who has helped over 400 investors like you. 

Are you looking to do additional projects like this in other cities/states?

In addition you are sharing with cellular network, which gets priority.

However, there was a lot of additional paperwork, and I had the capital...So I just opted for the more traditional path instead.  

There is only a limited provision to make additional fixed-amount payments once a year. 

There is no additional "risk" on the note like a demand clause etc, but you have  extra expense in upfront one time costs and the pre-payment penalty that most programs are sold with if rates do drop as expected in the future.  

Most lenders who order appraisals are required to order them through a 3rd party AMC, which can add additional costs to the appraisal but ensures that there is no lender (Or borrower) bias in regards to the values.

I reviewed the SB9 legislation, and it states that properties occupied by a tenant in the last 3 years are excluded from SB9 but only if the project includes demolition or altering more than 25% of the exterior structural wall.

Even successful and furnished properties often need a refresh and at least some additional reinvestment due to wear and tear. - Production: Typically STR production on the Oregon Coast is +/- 10% of valuation.

What I found was, yes it was nice have additional income, but each project seemed to always interfere.