Most very talented CPAs can/will advise you on tax strategy for a fraction of the cost.. 

There is travel time and cost involved.

All-in costs, including design, survey, permitting, construction loan interest, land, construction will be $360,000.

The renovations are cosmetic and are estimated to cost about 8k. 7.375% is a much higher interest rate than the other 4 properties I have, which are all between 3.25 - 4.25%, but I know that's just the situation with interest rates right now, and it may not get better any time soon. 

Addressing these early can save you from costly repairs later.3.

If not, can anyone share how you find reliable and cost effective landlord insurance policies?

Read below for notes from the conference and look for notes next week specific to BFR.NOTES- Home buying is currently double the cost of renting in most markets.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

You need to compare your cost of living, and overall personal cashflow each money with your current situation vs. this potential new acquisition.

I'm not in Texas but insurance costs are rising everywhere.