Great business model.

I also know the operators of a more a la carte business model.

I think it what should be 515000 that's not based off of comps that's based off of model and it's free and clear valued at $90,000 and I use that for 20% down I could borrow $360,000 from a lender.  

I looked up the Texas Heroes program and it fits the usual model.  

The lease and the tenant’s right to remain in possession continue, indefinitely, until the landlord has “good cause” to terminate.

I'm convinced MetLife uses this as their business model. 

You've got some time but you may want to think about a model that is buy, fix, rent, then evaluate after a year or so to see if you want to continue holding it as a rental.  

A seller who will accept your offer to buy at a big discount, with seller financing, possession with a delayed settlement?

The vast majority of evictions in Texas are completed in +-21 days with an additional 10-14 days if a Writ of Possession is needed for a forced move out. 

Finally, when marketing a deal to Cash Buyers where I plan to ASSIGN the contract, I understand that I must be careful in the wording of my advertisement to state that "I am in possession of an assignable contract" as opposed to indicating that I am in possession of the real property itself.