@Jon,I've got to go along with Bryan & Chris.The whole subject of lease options is covered in the Texas Property Code.

My website is hosted for free, built by me by borrowing code from places I like, using benchmark email instead of a paid aweber or mailchimp account, b2evolution.net for blogging, podio for CRM.

@Melissa W had great points...also find someone who's familiar with the codes in your area...example - do they allow cast iron pipes to connect to PVC or other little things we may not think of at first but can cost $$$...I think its safe to say most of us (myself included) underestimate rehab or prep costs at first so def have someone go through with you...Talk to a local bank, they may give better rates (one we use allows 15% down) than larger banks for investing...also find out how its all set-up (residential, commercial) and how it may affect loan...My brother manages a very similar place with apartment/storefront...he turned basement space into storage units if looking for extra sources of income...

If your an agent there is no law either, but the Realtor's code of ethics will cause an agent problems. 

PM me with exactly what you're looking for, cash price budget, stomach for repairs, towns/zip codes, etc and your contact info.I've got several properties under contract right now, closing on 3 this month, but I don't know what you want.

I have character, pride, integrity, honor, ability, talent, passion, creativity, intelligence, wisdom, code, and as a 44 year old man and father of two young children, I still have some energy and tricks up my sleeve.  

How about a zip code or at least a name of the city it is in.

Probably less if there needs to be any structural or code violation work done. 

My background is as an internet entrepreneur (ie: code geek) - been at it for 20 years and have worked with over half a dozen start-ups.

This is a link to the current BAH calculator for particular ZIP codes:  http://www.defensetravel.dod.mil/site/bahCalc.cfmYou can look at what various ranks earn just for housing allowance.