Some additional posts for your series:How you ID potential purchases?

We are both inheriting a 12 unit apartment building and each of us is receiving an additional separate property, one is a single family home and the other is a duplex.

Have/build adequate reserves.True example:I had an apartment fire that took out several garages on New Years and additional damage to two adjacent apartments from the Fire Department putting it out.

You offer their services at a discount to your clients as your differentiator. 

Even if you have to pay more for the purchase think about the costs of carrying the real estate while waiting for the approvals  (debt service, property taxes, insurance, maintenance for the in-place tenant) and the additonal finance charges associated with originating an acquisiton/bridge loan and then a construciton loan at a later date. 

Surplus would go to the HOA and if there was still additional funds it would go back to the owner/borrower. 

Also, if you setup a servicing company to manage the payments (usually like $25-35 a month), they can setup an escrow account for taxes and insurance as well and cut a check to her Trust bank account each month.

In addition, the Dallas market is about to decline significantly.

All in all, the artificial stronghold of the NRA and the listing services on the market can be characterized as a cartelized monopoly, and ultimately a mafia scheme.

He asked them to add it to the loan and he would pay them monthly as agreed.