To protect the purchaser of the wrap-around mortgage, Texas Senate HB 43:provides for wrap payments to be held in a constructive trust by the seller for the benefit of the buyerestablishes that anyone collecting or receiving a payment from a wrap borrower in connection to a wrap mortgage owes a fiduciary duty to the borrower for the paymentsdiscloses the nature and risks of wrap transactions to buyers and offer consumers the right to rescind transaction/agreement when disclosures are not made timelydefines “wrap mortgage loans” as a residential mortgage loan:made to finance the purchase of residential real estate that will continue to be subject to an unreleased lien that attached to the property before the loan was madesecures debt incurred by a person other than the wrap borrower that was not paid off at the time the loan was madeobligates the wrap borrower to the wrap lender for payment of debt, the principal amount of which includes the outstanding balance of the debt and any remaining amount of the purchase price financed by the wrap lenderclarifies that a wrap mortgage loan may only be closed by an attorney or title companyprevents “house flippers” from registering as financial service providersprohibits a person from making wrap mortgage loans unless the person is licensed or registered to originate or make residential mortgage loansThe new law goes into effect on January 1, 2022.

I was just hoping for some constructive, helpful suggestions on how to proceed with this unusual situation. 

That said, owner occupants are not business people and often don't make the best financial decision.

Look for: longevity in business, warranties their work, and a "fair" price (not the cheapest!).

Either way, I will call but wanted to see if anyone here had any knowledge....It will likely increase your insurance rate because of the business activity/liability. 

I can normally build new construction units for 250k to 300k in the Twin Cities.

If you have plans to grow your investment business, I recommend getting it set up now.

You have construction and remodeling experience.

Which will bring plenty of other investors and general business to the area.

Thank you to everyone that has worked with us previously for the positive & constructive reviews.