Purchased a condo and received an estoppel from HOA - had multiple special assessments identified plus seller's HOA unpaid dues listed and all were paid from proceeds at closing.  

You can use the proceeds from the bridge loan to cover the down payment and closing costs on a new property, which enables you to buy a new home before the first one is sold.

As long as your applicant is approved through your housing authority to pay what you advertised your unit for and as long as you don’t broker a side deal after the HAP contract is signed for additional rent you are OK to proceed.

Before I began investing with them, I had a business-owner relative in the DFW area provide feedback on the target area and visit the target complex, and only proceeded after they gave the thumbs up. 

You have to follow the required eviction proceedings  as required by Texas or she will be in the house living rent free for a long time. 

🤣Bought a Lexus LX 600 with the proceeds

That's works perfectly fine as long as you meet the reinvestment requirements and use all of the proceeds. 

I am considering hosting the rental myself and living next door.Could anyone provide guidance on how to proceed under these circumstances?

., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.

Proposal 2:  Sell at market value and prepay 4 years of rent from the proceeds, standard lease terms.