On the Development risk side, I told her I would never put us into less than a breakeven deal potential.Development there are far too many moving parts even though our process control is broken down into bite sizes.  

The contract really should set the table on what working with that PM will look like. 

Meanwhile if this is a single family home but is in an RM1 zoning district (as an example) you can usually get a use permit (number of units is based on the lot size).

Would this be a viable option for hospitals of any size?

Preemptively talking through issues that may arise (lowering rent, no payment for the month, big maintenance item, accounting error on your end) helps build that.Bring options to the table and educate the owner.

@Kent Ford Texas is not a market but a massive state nearly the size of Western Europe.

Here's a summary of what you need to know:Population greater than 1M and growth rate: The source for metro population size and population change: WikipediaCrime.Operating costs: State income taxes are a good indicator of government efficiency.

But again - no way to know the size of the fallout until it happens. 

I don't think there's a one-size-fits-all answer there. 

In my experience, if a 3 bed in that area, with comparable size and finishes is only getting $1200, you will get $1200, not $1800.And to James comment: while I am all for treating all tenants as people first, owning and managing properties is a business first.