I did file a large claim a few years ago for a broken HVAC.

I personally feel it's very intrusive to call someone like this, but maybe it's considered acceptable? 

I personally am not investing at the moment. 

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

When your LLC takes a loan, expect as members to personally guarantee the debt.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Make sure you have filed for Homestead exemption at the very least (this can only be done if you the home is your primary residence, not an investment home).

Also, get all personal info (DOB, SSN) from the seller in case needed when talking to lenders, lienholders, etc.

Rentals are extremely difficult to make pencil right now but would only personally consider higher end projects because the costs are far easier to absorb than trying to build in lower value neighborhoods.

I say "may" because while I have read about this in several places, I have not personally verified this to be true.I usually pay contractors by check the minute the work is finished and approved.