If the land requires for improvements then I'll do it.

Would a refinance like that require the same amount of cash down if you already own the property?

Strategy 1 requires more upfront investment and carries a higher risk of vacancy but offers higher potential returns.

FHA loans often require a lower down payment compared to traditional commercial loans.

An interest rate cap is essentially an insurance policy on a floating interest rate loan.This caps/limits the maximum interest expense exposure for a borrower using a floating-rate loan.Lenders also benefit as they can require an interest rate cap at a rate threshold that helps ensure the borrower can service interest payments comfortably, limiting the risk of non-payment in a rising interest rate environment.Floating interest rate debt has 2 components:✔️ Benchmark Index✔️ SpreadBenchmark Index + Spread = Total Interest RateThe interest rate cap will set a maximum threshold for the index used.Let me know what questions you have about interest rate caps below!

Since this is not only your business but you say you've taken money from banks and investors you might want to take some time to learn about the licensing and zoning requirements.

I'm not a tax pro here, but I don't think 1099 vs W2 makes any difference other than the specific reps requirements.

Otherwise @Ronald Rohde is a popular local attorney here on BP and in Dallas that you might want to consult.You could of course use a 3 day quit letter or whatever notice is required in your lease and see if that is enough to encourage them to move out. 

I would require the full security deposit to rent the unit.

You still need to do your own research, due diligence, and develop your skills.Building a successful real estate future requires careful planning and informed decisions.