@Crane Xu, some lenders have a seasoning period, where you need to own a property 6 or 12 months to refi.

Investing in Frisco is very tricky Period.

If they are so certain that the ROI will be higher than the guaranteed 10% after the 1st year, why are they not guaranteeing for a longer period?

In most cases, there would be a deadline marking the end of your inspection or due diligence period.

STRs will provide a much higher return, but require more periodic maintenance of course.

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They may agree to lower it for you for a period but I would not be shocked if they have a hard time doing something on your homes that is out of sync with everyone else homes they manage.

Find markets where you have high enough CF to recover all your cost (DP) in cash within a 3 - 3 year period. 

Yes, I would terminate current renters, period.

You aren't allowed to secure the house during the closing period.