.: I’m looking at a property that checks all the boxes—good numbers and fits my buy box—but I haven’t seen it in person.

Similar areas that have legal under utilized permitted space convert to max studios that you can fit.  

What will fit into your time and lifestyle?

A HELOC or cash-out refinance is definitely worth exploring if you want to free up capital for more investments, but make sure it fits your goals and comfort level.

If an attorney needs to get involved i currently don't have one, can anyone recommend one in the Houston area if need be? 

So this involves hiring an architect draw up plans ($1,000 - 3,000 if I had to guess).  

But now you have a challenge of documenting both your time AND time of everybody else involved with the property.Now, to answer your question - is it possible from out of state?

If no response contact the State Banking group and get them involved.  

I strongly recommend getting involved with your local REI meetup groups so you can work out your pitch with help from other landlords.I hope this doesn't come off the wrong way without tone or facial expressions behind it. 

Quote from @Logan Barwick: I Am looking at getting involved in rental properties and debating on which option would be best.