Too bad about the sewer tie-in limit but aerobic systems are not bad you just have to maintain them and have service contract on them.  

Step Penultimate:Once you get a response from an owner of one of the vacant homes, just negotiate to buy it at a discount for all cash and get it under contract.

@Ryland TaniguchiThank you for sharing.For your current partners, do you still have contracts signed on a per deal basis or is it 1 contract that covers everything? 

Just to clarify, I don't mean partnership in the legal entity sense here, as I think we want an LLC with all of us being passive investors.  

Be happy with the niche you select and know the market well too, especially the best locations.Always remember to do a math analysis and try to look at all prospective properties before you make an offer or at least have a clause in the sales contract that gives you some time (about 10 days) to make a detailed inspection and possibly back out of the deal without much of a penalty that will hurt you too much.  

I am needing to know that if I get a seller to agree to terms (owner financing) using a purchase and sale agreement, then assign that contract to a tenant buyer with my assignment fee, do I need to be licensed as an agent/broker?

I am working with Jeffrey Burr, but I also know of GMD Legal that can do series LLCs, too.

How do I go about doing a purchase contract in tx?

Not sure how legal it is, but you can ask for proof of funds for a couple months worth of rent. 

I was able to get the signature on contract because I educated her on what most investors will do (tie it up with contingencies to flip w/out closing).