If you are going into the space with limited experience, do you think that using other peoples money is a good idea?

This means no limits to the number of 30 yr loans.   

We are considering one that’s charging $0.50 a unit but problem is the functionality seems limited.

It may only be a matter of time before strict short-term rental regulations in Texas cities, such as Austin, are a thing of the past (or at least significantly limited).

Statute of limitations can be somewhere in the 4 year range based on contract law. 

Being licensed means taking on a legal duty that limits one's ability to take certain actions other investors can take.I know people who became licensed stock brokers but never got a job in the industry.

Notable examples of folks being burned buying company stock at a discount include, but limited to, Enron, Worldcom, Lehman Brothers, GM and a whole host of other companies.Having worked in finance for a long time, I can tell you that no company is doing you a favor by letting you buy their stock (discounted or otherwise).

When you do, the sky is the limit.

Above you mentioned that coverage on the dwellings wasn't that important so if you wanted to keep cost down you could use the more basic DF1 policy (ask the agent down there) and market value for the dwelling coverage amount with a higher deductible and then max liability limits (probably $1 million). 

Your mostly conventional approach is limiting you.