It sounds like you have a solid game plan and are ready to put the rubber to the road.

While spending the money probably isn't in the best use of funds for a property in this price range an actual video tour may help.

So townhouse/row houses are pretty much the only game in that neighborhood and those townhomes can go for something in the $300-$600K range.

If you plan on living there first (house hacking), you'll have a great advantage getting started in the game.

We are trying to build a network of hard money lenders who are willing to work with newbies with little skin in the game in Houston, TX.

This property will be delivered with clean title there may be half a years tax's or so but you would take that on.I want this to be a learning experience for the BP community to share with especially newer investors looking to get into the game...

Your time here will be well spent.Since you didn't mention a specific REI area of interest, I added the below links for your selection of one or all.http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)Now that you have made the move, below are some links that will help with the navigation of the site. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categorieshttps://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)Before your 1st purchase, please ensure you visit the below link for some tips.https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/REI books suggested by BPershttps://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

We are very interested in the buy-and-hold game for passive income to eventually earn enough passive income to quit our day jobs (obviously with realistic goals knowing it will take years).  

I am new to the game and am looking to help a local investor however I can.

In fact, the game was not about making money but rather mitigating the losses.