I assume your question means that you don't have any money of your own, to which my advice would be: go make some money first, then worry about trying to buy RE.

You say you are selling your home, but then say the owner is open to adding additional terms. 

We are now having to involve the tenant as her lease is coming up and if we can't get the balance paid up to date then we are going to have to give her a 60 day non renewal letter. 

Find your precinct and then look at that JPs website for their court. 

My plan is to purchase the property then demo the house and subdivide the parcel into 3 separate lots.

@Caroline PowellAs long as the final product ends up being a residential 1-4 unit property where the primary borrower intends to reside in one of the units as their primary residence for 1 year, then you can do an FHA loan on it ... including the FHA 203k. 

Dan - I'm not buying in DFW, but I am underwriting with 0% rent growth the next two years and then growing out my rents and expenses at the same rate in outward years - typically at 2% each.

You'd have a better chance by getting a job at McDonald's, saving $2K, and then using that to do some actual marketing. 

Then, when I was ready, I would slowly invest my money. 

Who is your target then, that would give you the most access to those investors?