The really good stuff is showing 22-24%, but I am trying to be conservative with my forecasts.Scaling up, using all my available capital (I don't feel I will need to, but worse case scenario), if I am efficient with my purchases and stay around a 20% return, which doesn't seem too unrealistic in my area, i should be able to get ~$90k year in passive cashflow in 8 deals or less. 

If your.contract gives you an option period for inspection, you can tell the seller you need to reduce your offer.

But after a period of time (1-2 years) you can change your intent and use it as your primary residence. 

I understand from the last post that I will look at homes that end of getting pulled of the list the day of the auction, but I want to be as efficient as I can. #2.

Rent will be collected during that time, depreciation will be taken, and where they are being built they will also appreciate in value over that time period.

We will definitely make sure to live in the home for the set period of time to follow the guidelines if we utilize those financing options.

Id like to set it up so that I have multiple tenants come during the period of time that I am in Texas. 

But they were all more or less the same offer, when amortized out over the balloon period!

On different properties there isn't a "waiting period."  

Replaced the furnace for a high efficiency one, ran CAT6 networking to all rooms, enlarged and replaced 4 of the basement windows, replaced the suspended ceiling for drywall, installed 11 (yes 11) interconnected smoke alarms and sprinkler in mechanical rooms, repainted basement walls, replaced one of the rooms flooring, added gravel to the 3 parking stalls (currently was dirt).