Afternoon, I have a seller that’s open to subject to, but back out because their LO said they wouldn’t receive financing for their second house.

As you scale, if bookkeeping isn't fun for you, consider hiring a bookkeeper for a couple hundred bucks per month.We do 20 out of state Flips/BRRRRs per year and use QuickBooks Online to manage all of our finances for rehabs. 

What is the best way to approach this, build to rent communities or buy a property and rent out with property management.

You gave me a lot to think about, I am confident the rent can be increased and have a contractor/property manager lined up who has inspired a lot of confidence and comes with good references. 

https://www.har.com/content/department/newsroom?pid=2107Houston Real Estate Highlights in July, 2024:
-Single-family home sales rose 1.8 percent year-over-year;-Days on Market (DOM) for single-family homes went from ...

I also self-manage.

We've flipped a few houses in the past, built a few, remodeled a few,etc. 

Does anyone have any recommendations for property managers?

Side note, when they were selling the house they considered this space the 3rd bedroom, but during the appraisal, they considered it a loft.

I am interesting in purchasing some property out there as well and was wondering if you had any realtor you recommend and any property managers you work with.