I would also recommend keeping a big, beefy emergency fund.

A cookie cutter first deal looks like:Purchase: 65k - 90kRehab: 50k - 75kARV = Project Cost/.7Neighborhood: B or betterRehab type: cosmeticAvg Days on Market in zip code: 30 or lessThat's an example of a very safe deal for a lender to fund for a newbie.For a 0 experience expect to pay 11.5%+ in interest.Keep in mind the cost of a project's lifecycle. 

He has the proof of funds and I know why he is not going to get a conventional loan.

what happens with the initial scope of work and the company that's funding me?

.- Understand the rules of the syndication or the fund world (Reg D 506B vs Reg D 506C).

If not please delete this post.Can anyone recommend an architect company who is familiar with ADU and is responsive, organized and creative in problem solving?

The city's growing number of people and its economy might also help raise home values and the cost to rent.Start by looking at your equity, research the rental market in Lubbock, check out properties with tools like BiggerPockets rent calculator, talk to local pros, look into money options, and choose if you want to run the place yourself or get a company to do it.

TSAHC's down payment assistance programs can be great options to assist qualified homebuyers get into a home that they might otherwise not have the available funds/reserves for.There are also a few other down payment assistance programs here in Texas as well that are worth mentioning:- TDHCA (Texas Department of Housing and Community Affairs) offers the Texas Homebuyers Program with a couple down payment assistance programs. 

I searched for top real estate agent companies in the area and was referred to the Tampa Home Group, to purchase both properties in the same community.

I'm going to talk to customer support with both companies again, but thought I'd check on any thoughts from those who might have had personal experience with either company or changing programs in general.