In the peak season the math is better.We started charging MTR a bit more for the four biggest holiday weekends of the year. 

The contractor will be your biggest challenge.

Quote from @Mary Jo Carruthers: @Albert Hepp Did you know that there are quite a few non profits and also the city of Austin in the austin texas area that provide down payment assistance for first time home buyers?

Here is  the biggest question - I expect withholding  $1.00 of the security deposit is going to cause friction.

Also if your condo HOA doesn't stop you the City of Plano might. 

If that's the case, check out some of the economic data about what cities have strong job and population growth.

And, none of them would want to be in all 3 cities unless it is a fantastic deal.

Sometimes diving into a new space can feel overwhelming, but it’s where the biggest growth happens. 

Each property comes with its own set of risks and every investor must understand those risks and do the minimum - get 3rd party inspections, 3rd party appraisals, verify rents, jobs  and crime rates at city-data.com - before buying.

In fact being current on payments is the biggest challenge to getting a short sale approved.