Would then add covered sidewalk frontage and a new facade or signage. 

As far as I can tell every HOA document has something like this one form or another:The term "single family residential purposes" also shall be defined as: (1) one or more persons related by blood, marriage or adoption, which may include only parents and their dependent children, siblings, parents or grandparents; or (2) by no more than two unrelated persons living together as a single housekeeping unit and their dependent children, siblings, parents or grandparents.See Article III Section 3.1 here as an example: https://1drv.ms/b/s!

The goal is to lend relatively close to my home in Los Angeles.

A noteworthy tax loophole, particularly beneficial for those yet to attain Real Estate Professional Status, offers a strategic approach to potentially offsetting OR EVEN ELIMINATING the impact of high job-related taxes.At its core, this tax loophole revolves around discerning between passive and non-passive activities within the realm of rentals.

I want to make sure I am not missing anything major and that I have all my bases covered.

A lot of people can relate on that.

I am new to Houston (relatively) and currently looking of multi family deals. 

If you really want to micro-manage, then self-manage and save the 10%A good PM would have explained their documentation procedures related to repairs before signing. 

Another post suggest, taking out equity to the limit where you have to pay taxes and to the level where rent payment is covering the equity taken out make sense.

As I understand in Colorado the Landlord is ultimately responsible to cover costs of pest control.