Number 3 increases the ration of cancellations.Ofcourse there are more, but these for me are the most "damaging".How can we fight the above?

You're rationalizing a bad deal.Bad neighborhoods aren't the place to start your investing. 

They use phrases like "They were such nice tenants..." or "they always kept the place looking good" as excuses for why they rationalize letting the tenants not live up to the agreement.  

Additionally, I am struggling to rationalize the $3 million asking price.

Property taxes and insurance are high in TX which means that a 1% ration will produce a lower cash on cash return than market like Kansas City or Indianapolis with similar rent ratio's but lower operating costs.

My rational is that there are actually more costs associated with owning a rental property- repairs budget, capital expenditures, property manager fee, vacancy.

Women in general think and make decisions with emotions instead of rational logic like men .

There's a million variable in the lending world like your credit, income, debt to income ration, the property type, specific market, how many loans you have, etc. 

I can see you in front of a judge rationalizing why you should keep 6 months of rent after you evicted them after 2 mo.s because they didn’t pay the last 6 months in advance also, as agreed....good luck with that.  

Don't rationalize a good deal into a bad one by being more concerned about the property that the deal....but first, learn the many, many ways of doing seller financing...how to find the sellers that are willing to do it, and  how to design the proposals.