@Sarah Kensinger agree, I am just exploring different options and weighing the pro/cons. 

What prevents your end buyer from waiting out your option period and going direct to your seller? 

You have 3 options for Property Management - Suncadia, a local PM or do it yourself. #1.  

@Oladayo BolarinwaInvestors looking for rental real estate in the Houston area have several great options to choose from.

Definitely open to both options

Location (rapidly changing/close to amenities)This will hopefully make it easier to rent and give you options to rent out short term if desired.

Who knows.Another option would be to buy a small parcel and slowly build a house with/for him and pull owner permits.

Being leveraged for a bit isn't the end of the world - there are usually options available if push comes to shove - 401k loan, personal loan, sell stocks, credit card (then balance transfer continuously until you can pay the balance off) and lastly sell.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

It's a budget friendly option to some of the other services, and they have engineers on staff + audit defense, but the more expensive cost seg companies ($1500-2500) will actually do walkthroughs of your property via Facetime to more granularly estimate components of your structure.