Also, the contract that I signed failed to specify that the 1980’s house that I want isn’t a brand new house, so I’m glad that you pointed that out.

Yes, I have a written agreement, bank records, plus phone records & email and text threads showing he routinely failed the SLAs outlined in the contract. 

They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.

Later on people heard him saying that he wanted to kill himself due to all the failed deals.

Form 3115 allows you to restore the fairness in this situation and "catch up" with the remaining $30k of depreciation that you failed to take in the years past.

If the tenant fails to provide proof, I would reach out to a local attorney about handling the lease violation appropriately, especially since Texas has specific landlord-tenant laws.

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

If you fail to follow the rules, you may open your personal assets to a lawsuit.

That's it.... if you truly dont care about impressing or failing other people, you'll be happy and successful.