If you care about your investment simply choose not to rent to anyone that does not meet your requirements.

Paint, flooring, kitchen and bath remodels, landscaping, and took care of some issues impeding financing.

Around here, our city won't really raise issues with anything that's been existing (I sold a house that literally the entire porch was technically in city property and it's never been an issue) so most buyers and sellers don't care about the survey unless the property lines aren't clear.

Like Cassi says, Midwest City is a decent area, but I would be careful being an out of State investors. 

As a word of caution too...I think women tend to be a little more careful than men on this stuff...but it was a male agent that was killed.

not sure if that area's economy has improved but I was looking at stuff pre GFC there and it was pretty depressed. although Its one of my favorite airports to fly into.. especially landing from the west and coming in over the ocean and Bay its a really cool approach and the 100.00 hamburger joint on the field was good. although i think it may have closed.To me its one of those markets you have to be super careful in.  

If you're working with a local institution that keeps their loans in house, this isn't a problem.What the banks mostly care about is Debt-to-Income (DTI) ratio.

For instance why would a realtor/seller care where the investor who purchases the property lives?

I looked up the taxes and added them up and came up with a rate of 2.821909%, so that 3% estimate is very close, I got $423.29 so just about $27 less than your $450 per month.The Lawn Care, Repairs, and Capx seem like they are in the right ballpark and same with the Electric, Water and Gas.Now regarding the loan figures -- FHA charges Two Mortgage Insurance fees on each loan; Up Front Mortgage Insurance Premium (UFMIP) and Annual Mortgage Insurance (MIP) paid monthly.At a $180,000 purchase price your Base Loan amount is $173,700 (.965 x $180,000) which you have, but your Total Loan amount, which includes the UFMIP would be $176,739.75.

My intended investing strategy is to buy properties in great school districts and rent them out to nice families who will hopefully take good care of the property and stay for a while.