Do you require proof of income or job stability?

If you in fact agreed to purchase the property via a Contract For Deed, you would not have received a deed until the last payment required by the CFD was paid. 

I know many counties require a cashier’s check right away, but my bank only has two locations in Austin and they’re not close to the sale locations.

Most building codes and HUD standards require bedrooms to have windows for egress and ventilation.

What do you guys think about requiring possible tenants to fill out a zillow app before showing the house? 

I am not sure I am at the level to require PMS, this will be my 6th property, but the direct booking is something I'd like to expand into.

You should still be able to finance this on a DSCR loan, however it will require some exceptions to be made and the rate will be high. 

Your CPA should guide you through the requirements of material participation.

@Trevor Davis If you are going to build with your own cash (and can document it) there will be no seasoning requirement.

My plan is to start a website and market the property on it and some social media platforms in addition to supervising on-site management to complete the necessary day-to-day requirements of the property, screening and selecting tenants, etc.