I feel I have a good action plan, but wanted to check with more experienced investors just in case I'm missing anything.  

Then go check Yelp, Facebook and Google for reviews. 

My lease ends in March '19, and I'd like to determine the viability of the following "live-in flip" plan from experienced investors and lenders in DFW:1.

Managing an airbnb is work as host has to make sure house is clean because reviews are important.

If all your questions are answered positively, I would still have a contingency clause in the purchase agreement that would allow you to "walk away" without any penalty that is financial and before I closed I would hire a professional and experienced Inspector that would make you aware of any possible negative/unexpected things that he discovered.I would not buy a single family house for rental unless it was used as a "house hacking" loan that I felt pretty good about qualifying for it.There is only a couple reasons that could make it OK to purchase. 

Review their management agreement.

We are closing on a college rental with more than 11% of the loan value in closing cost (conventional financing)…. this seems high - is anyone experiencing similar closing cost?

Running the numbers and need an experienced, well seasoned PM to run the property.

If you Really want yo help your uncle; get him an experienced agent should knows small multistory, and get him to a lender, do he has an idea of what is and is not possible.

I've also met with a developer who said he looks to "double" on every deal  - meaning he is spending 200k for land/permits/materials/labor and targets a 400K sales priceIn my area, 4 units+ is the trigger point for all sorts of additional complicated planning reviews and requirements, curbs/gutters, traffic studies, environmental reviews, etc...