We developed a budget that would allow us to save enough money for a down payment on a construction loan at the end of the five years.

That’s a psychological barrier, not really a relevant factor but we’ll see how people react.

I think it works better in some states than others.I'm always up for exploring options with lower rates, as long as it doesn't increase the hassle factor and risk significantly. 

I actually ran the numbers and it's FAR cheaper to rent year round than buy a 300K condo even factoring in VRBO'ing it to a certain extent. 

According to the City planner, there is no immediate impact to the current construction/units according to the city but this could be developed in the future for mixed use.We have no experience in commercial so any input would be great .

@Darren Lenick, I disagree that that the corporate entitles won't be much of a factor. 

Temple in located right on the I35 corridor, is a nicer town than Killeen, and is seeing a good amount of new development in the area. 

Your lender may have internal risk factors that may push up rates or require larger down payments when you hit a certain number of properties.

My primary business is selling land in LA and the Inland Empire to homebuilders and other kinds of developers. 

., if you're not willing to pay for a home inspection then they might assume you're not serious about the home, and therefore they may not invest their time doing a walk through with you).Its definitely harder to get estimates/opinions from contractors without having a relationship with them first, and its hard to develop that relationship without doing business with them.