Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

There are serious consequences if things go badly.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

@Micah Huffman unless you are going to commit to learning some basics about being a landlord AND are willing to commit at least 2-4 hours each month managing a Property Management Company - it's probably best you sell.Otherwise, it's highly likely you could lose more due to bad tenants and management.

If you decide you need a third choice and didn’t choose them already.

It’s not an area that you can say this zip code or this neighborhood is good or bad.

El Paso cash flows beautifully with minimum down payment and has plenty of choices.

Over priced, layout is awkward, junky neighbors, back on market/under contract multiple times, bad photos, bad timing(got buried from other listings, weather occurrence, etc). 

You will go through a lot of bad potential renters before you find a good one. 

You only get a sense of this by meeting face-to-face once or twice.A bad borrower can kill a great project.