Wells Fargo, US bank...EDIT: Refrain from applying for a mortgage pre-approval online.

However, using the 50% rule and checking out some online commercial loan calculators, I believe the deal could work, depending on what kind of interest rate I can get.Please correct me if I'm wrong.

Do you have a website or any online reviews?

In Texas, protests need to be filed by May 31st and most counties have access to online appraisals to check the values

Can you pay rent online?

If you take 'adverse action' (decline them or request a higher security deposit) on an applicant, you should provide an Adverse Action Letter to the applicant (many templates/guidance online etc).If you don't have acceptance criteria and appear wishy washy, it may appear (at times) as discrimination -- even if you're trying to be nice...

I am told that the first attorney they went to wasn't able to help them and that he/she referred them to another attorney who specialized in this type of deal, but he wanted to much money so they decided to just pull a generic contract off the internet (I do not yet have the contract in hand or I would post it).Some big concerns I see with this.1.  

If so, I belong to a (free) private investor group that communicates over the Internet.

It has everything you need including free online videos and courses for you to watch and learn from.

Go on line I'm sure they will give you direction there.