You can try a few more and most likely get a better response and not as strict guidelines on credit. 

Not to mention, by law you need a local agent in charge to legally operate a rental in the city.

I’m not familiar with Texas law, but I doubt merely having a contract allows you to record something.

Spendthrift trusts are not favored in the law.

It doesn't help that I live in another state.I suspect he's using the law to make my life as difficult as possible.

Ideally, I’m targeting either a small multifamily (2–4 units) or a single-family home with a separate apartment/in-law suite that I could live in.

@Anthony Liguori with how difficult Newark NJ makes it for landlords unless the laws change there are many other options for markets around North Jersey which will produce amazing returns and way less stress for landlord. 500-700k properties in the right area have best shot at hitting 1% rule, even in todays market.   

Start by choosing one or two promising markets, look for areas with population and job growth, landlord-friendly laws, and affordable property taxes.Next, focus on building your local “boots-on-the-ground” team: a trustworthy real estate agent who works with investors, a reliable property manager, and a good local inspector or contractor.

At this point, I strictly work with wholesale lenders that only work with brokers.

Most midterm rentals (like 1-6 month leases) usually don’t qualify for this, unless the average stay is kept under 30 days and you're really involved in guest services.For MTRs, unless you actually meet those strict requirements or qualify as a full real estate professional for tax purposes, it can be tricky to use rental losses to offset W2 income.