@Pedro Preciado Everything Scott told you is true. He knows what he's talking about on this area. If you get these major things done as a part of your contract without adding much to your price you'll be okay. What I was concerned about was that you were spending 44k and have some major issues.
As for markets, I am a BIG believer in investing near home. I know there are advantages of investing in markets not near you (notably: diversification, and trying to capture a good market. My thought it that Amarillo is good, but if i have anywhere in the USA to pick, it wouldn't be in my top 5. On the other hand, if you have a proven system you can model, thats a major upside. A big reason why I am investing in the area you are looking at is that it is 10 minutes from my house, and I have a few people that have been doing this for 15+ years that I can copy their model. Its proven. The shaky part is, I don't feel amazing about this area in the 15-20 year range. With that said, I don't hate it much, because I have 3 houses within a mile of this one and would buy another if the deal is right.