Look into your loan options as well.  

We are just starting to get into talks with local banks about buying their paper.  

I like the functionality a lot but it seems that once a month there's a new bug to contend with that's eating into my time.

Is to close both loans at the same time, usually the Hard Money lender will want the PML 2nd lien lender to sign a subordination agreement to make sure that they are in 2nd position, because Texas is a 1st to file state, you could run into a situation where your 2nd lien goes to the courthouse 1st, and files 1st.2.

Especially if the deed hasnt been recorded and gotten into the system . 

I would break even on LTR.

I'd also love any tips on going into this endeavor. 

You can work on ignorance only so long before it breaks you into little pieces.7.

I am looking to acquire raw land and develop it into an RV / microhome community, including construction of the homes.

Wow, @Ryan Dickerson I love your post because you seem to be on the right path.Figuring out your construction cost and building your team prior to entering into deals can alleviate a lot of stress during the project.Also, your respect and understanding of the value of a general contractor's time is impressive.