Watch the house to see if they abandon it, which they probably will.Buy some books and educate yourself on how to be a better landlord.

When I became power of attorney for my Dad here in the US, the whole transaction costs me $50 and I used a notary.   

I bought the book also & the link leading me to Biggerpockets does not work either & gives me the same error!

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Are there any knowledgeable mortgage or finance brokers in the Houston area who have expertise in similar transactions?

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

You'd probably want a real estate attorney familiar with creative transactions to help with the documents. 

An investor who has participated in a subject to transaction without lender approval should NOT assume that they are safe from note being accelerated because a certain amount of time has passed.  

You'll be tagging transactions throughout the year with categories that fit the Schedule E so when tax time comes (if you stay on top of it) every deposit and expenditure will already be categorized and it's quick to create the Schedule E and/or run P&L reports any time you need to.

And in regards to getting educated on the the laws, I assume the best route is to link of with an attorney who has experience with these types of transactions?