This is of course for a primary home but its a great way to get into the game similar to VA - Military 100%.

Unless your lease says something different, in Texas we can normally give 3 day notice.#2. 

The difference in Year 1 until it gets re-assessed is just extra gravy. 

A basement to live in it, needs a different type of egress and windows to be able to be slept in.

I'm planning on acquiring a HELOC on my primary residence to help me with the down payment/expenses of my first investment property. 

No taxes as long as your primary residence. 

How long it takes to be financially ready is different for everyone.

I have a single-family home that is my primary residence.

The goal is to generate income from my primary residence.  

Don't know anything about them but per my calculations they are taking 27.2% of the capital appreciation on the New Braunfels deal at the end per their projections which seem optimistic in this oversupplied environment, (Austin MSA with largest new multi-family projects coming out this year in the country ,8% of total existing stock and already seeing rent rate declines of near 10%in the city so far) and they are taking a big chunk of the monthly cash on cash as the preferred payouts for their 3 different classes are well below the projected cash on cash total.