At a 37% tax rate, this creates around $117k in tax savings, reducing your taxable income from $700k to $583k.2.

Generally speaking, with SFR or small multis, I just rely on the lease/rent roll (and some form of proof of payment; i.e. bank statements, deposit receipts, tax returns, etc.). 

If you are taking out a conventional mortgage of any kind, you can't buy in the LLC as it does not have two years of tax returns.You are also asking if an entire state is good to buy multifamily, which means you are too soon in the process to even talk about buying.

Major repairs are done, taxes up to date.  

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

Hi Everyone,I  am a professional wholesaler and property locator, I locate property on/off market, do a full due diligence on title, encumbrances, taxes ect...

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

However , properties taxes are due like roughly 12k for the two lots. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Texas is definitely a strong market, but keep in mind that high property taxes can eat into your cash flow.