If you don't want to occupy, there are other options that look at the income potential of the property and do NOT factor in your income, employment history or DTI but you'll have a significantly higher minimum down payment - plan on 20% to be safe.

Additionally, what factors typically increase bankruptcy risk for leveraged investments?

Owning several apartment buildings with a minimum of 25 to 30 units each.

The land is currently  pretty much all. jungle would a 2 bedroom home be the best option or would you guys try to build 1 bedrooms 

I am looking for cash flow positive storage building in Texas, off a major highway, with value add potential, preferably in North Texas (Sherman/Denton/McKinney), Central Texas (Waco/Austin/San Antonio), West Texas (Odessa), or greater Houston area.  

There is no right or wrong way to build wealth. 

Appreciation is just the cherry on top.The last few years Toledo somewhat caught up with appreciation but I believe we are capped now.It's a slow moving market and always behind the rest of the country.There is just not enough demand/infrastructure growth like in other markets to support continued appreciation.Historical data shows the Toledo market appreciating at the pace of inflation which is nothing to brag about hehe.IMO, it's a cashflow play and you should consider building a larger portfolio because it will be safer.Owning 1-2 properties can be a "hit and a miss" and really not the providers or PM's fault.There is a high likelihood of turnover so it's important to build a larger portfolio.If you experience "drama" on 1 or 2 properties, the other 4-5 are performing and can subsidize any losses incurred on the few that temporarily aren't performing.Wishing you much success

Starting to dream about building a trendy tiny home /  container home community in our local mountain town that has become insanely unaffordable to the  locals.

Consider factors such as the purchase price, condition of the property, rental income potential, expenses, and potential return on investment.

Do you have anyone you use for repairs, this will be a consideration done the road.Second, you will want to factor in reserves for the unexpected.