The interest on both loans is 10% which might be low if you are using hard money and high if you are using any other kind of loan.

Repairs and maintenance budget?

Share the highs, the lows, and the valuable lessons you’ve gathered along the way.

Also, I believe the LTR rate may not cover the costs including maintenance/repairs. 

if yes, go with subject to, no money down, only closing cost which minimal (no need title insurance). 2/ if you are in market to buy, look for creative finance deal (low entry point and lower interest than current market)reach out if need helps

Check the units periodically and schedule maintenance before things break or the tenants starts to complain. 

Additional costs like HOA dues, neighborhood maintenance funds, and property taxes over the duration of the build should be factored into your financial strategy.The foundation of any successful partnership lies in a robust operating agreement.

The good thing about Spring is the fairly low purchase price range, the bad thing is schools and certain areas are on the rough side.  

without understanding your goals and current situation, the advice I'd give to most is to get started with low money down in your neck of the woods by house hacking and build from there. 

A low entry fee How did you find this deal and how did you negotiate it?