If done properly you will stand out in two ways 1) you will be a person of integrity and your word is very valuable in real estate investing 2) you will benefit from the law of reciprocity which means those you benefit will owe you. 

If the tenant fails to do so within 10 days’ time, you may initiate the eviction lawsuit.To begin the eviction lawsuit process, proper notice must be served on the tenant.

Hopefully they'll be able to provide me the proper guidance where I could just fill in the pieces to their framework.

However, you mentioned that the Austin market itself is possibly too hot to invest in Austin proper.

Your cash flow will increase steadily if you raise rents properly.

Your loss truly is limited to the amount you invest if it’s structured properly.

Whole process and intention of the Ordinance is not being followed properly.

You are in a business with the intent of making a profit.taking out a loan is not income, it is increasing your debt.If you need cash to live, properly budget how much you need and plan accordingly.If you don't have a job and only relying on rental income.

Does anyone know exactly which TREC forms I will need and how to properly fill them out that that I am covered on all sides of these agreements?

Inexperienced investors tend to (1) get exited about deals without having the experience, knowledge or ability to properly determine if indeed the deal is good, bad or mediocre, (2) take what the seller says as gospel not realizing most sellers will exaggerate, lie and or withhold vital information to get what they want, (3) engage people who will provide opinions for free rather than pay a competent professional, (4) get emotionally caught up in the deal and very defensive when receiving an opinion or information that doesn’t support their dream, and rationalize that more experienced people who point out flaws are “jealous, negative or haters”.Btw, no one can provide any knowledgeable answers to your questions without first analyzing the deal, your ability to come up with a down payment, your credit capacity and banking relations, if you have a track record, your experience with similar property ownership, etc.