Definitely not willing to put money into something like this and potentially worsen our situation.  

Knowing that you're new in the forum and to avoid a potential reaction of the style "Who's this idiot who thinks he knows my country better than me?"

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Dallas on the other hand has more growth potential in certain markets in my opinion.

Buy at a discount given the lack of building potential and can always pass that discount along when I sell.2.

It's a great property with tons of potential but it's missing the IT factor.

I am foreseeing a bit of a push back or even turned-off potentially decent tenants by the $50/pp screening fee, mostly for a family of 4 ($200 out of pocket).I was wondering if offering a credit of either 50% or the full 100% of the screening costs from the first or second month's rent is a good idea.Thought?

@Shayan SameerThe non-paying tenant could impact your short-term cash flow, so consider the potential costs and timeline of eviction in your state.

Also, good call on the potential rent control- I will research that a bit further. 

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.