And by stress-testing I mean calculate what your debt service could end up being if by the time your 5 year balloon comes due, interest rates have hit 12-15%?

People on BP often talk about leveraging debt to acquire more properties, I'm leveraging all of these benefits that my employer is offering to help me meet my goals faster, I use RE as one of several types of income streams in my overall portfolio.

If a Lease Option in Texas is structured the following way will it be legal? 

This gives us legal protection if someone sued the business as our personal accounts and personal professional corporations are not involved. 

For example, what town is this because different towns have different rent control laws and if you have violated any of the rent control law they might be legally entitled to a reduction.

My boyfriend and I already own two properties which maxes out our debt to income in looking for our third deal.

This is not a debate about Dave Ramsey-we are out of debt and have 6 months emergency fund and don’t adhere to his investing advice but I liked this idea when saving to buy real estate. 

And it would be appear on his legal record.

I have statements from his old contractors  telling how much the contractor still owes us, but didn’t know if that was enough to pursue legal action.

If you're at 75% or less, you should be able to get long term money, even if it's alternative - 30 year ARMs at rates in the 6-8% range, as long as debt service works (rents cover PITI).The other one seems doable too, if same type of deal w/no work.