Are you really going to make investment decisions that involve legal documents and capital being invested by outside parties based on what someone writes in these forums? 

Zoning and Land Use: Check with local zoning authorities to verify the property's zoning classification and ensure it aligns with your intended use.

I'm aware of a couple off-market deals that I've dug up for other investors, and I know a local investor that owns over a hundred of units that he'd consider selling, all the way from bare land, to single families, to multi-units including several apartment buildings.

Not here to defend anyone or point fingers but we have had many unsatisfied investors over the past 10 years.Most will buy 1 property and expect miracles.It takes a larger portfolio to make it more stable and more cashflow profitable long term.Owning 1 or 2 properties can always be a hit/miss.Owning a larger portfolio should over time perform better "year after year".Just my opinion based on PM data that we see on the back end.Much success

I'd recommend to reach out to Michael Estes here in Austin - he may be a great fit to help you with what you are looking for based on your goals/anti-goals listed aboveMichael EstesTexas RE Broker License #494994www.trendRE.com

I rent properties just outside of base and have had a good amount of success with it. 

They are 14 hours from our home base.

Assuming you got a conventional loan and put 25% down, based on an appraised value of $365k you potentially could pull an additional $112,500 of equity.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

Especially based upon incomplete facts.