First the condo, consider owner finance. You can demand at a higher price and charge 9-10% rate which seems to be common in Houston. You can demand a large downpay also because you are the banker now. Most people cannot buy house today because they cannot get financing. There are many details in owner financing that you must do it properly. You can have a real estate attorney experienced in owner financing to help you, it's not a big deal.
Second for the SFH, consider buy it as owner occupant from Fannie, FreddieMac, VA or HUD directly. Fannie has a 3% down program and the rate will beat any you can get from market.Fannie also pays 3.5% for closing--so in Houston for you it probably mean no closing cost to you. VA charges 4.5%, etc ... HUD has its own program. The key is you are owner occupant, not investor!!!!!
Your income from condo owner financing may very well exceed your SFH payment.
