Finding a good contractor in Columbus is one of the biggest obstacles in this business IMO!

There is little downside as the no eviction rules only applies to applicants: https://www.houstonrentassistance.org/landlords

It can be lucrative, with a lower up front investment but there are lots of downsides.

And because you're sale is for more than 50% of the target property value you would need to purchase more than 50% of the property in order to spend $700K.The biggest issue though is going to be your family member. 

There are certainly well explored downsides to STRs, but what you're highlighting here is the trump card in this very moment!  

I should really state again how IMPORTANT this is as it is the biggest reason HUD properties fail to close and I end up buying them on down the line

The biggest mistake was using my actual money not a hard money lender.

This eliminates the need to pay PMI because the LTV ratio of the first mortgage is 80%The downside of using a piggy-back loan would be that the second loan will more than likely have a higher interest rate than the first.

And many of mine only call when they are not able to fix the issue in the first place.The biggest downside I have had was the annual reinspections continued to get more and more stringent and expensive.

Downside to this is adjustable rates with balloon payments on shorter terms.