I’d like to start charging for applications, and screening myself, any suggestions of best way to do that?

Plus, tenant screening may be even more important that the state's eviction laws, since the goal is to get the right tenants in the property in the first place so that you have to evict as infrequently as possible.

@Max McNamara please do due diligence and screen:)  I do not invest in DFW   was just helping you out

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Again, there are good ones out there but you need to know what a good one looks like, then you need to screen them until you find one.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

Assuming i find a property management team that can be trusted, and that the tenant is properly screened, how could something like this go wrong?  

No population growth, no economic surge and rents have stayed flat.

Now interest rates staying flat hasn't helped too much, but we are in the higher season of people moving/finishing school/etc. 6-8 months ago was a bit slower. 

What concerns me is any lien that would prevent me from refinancing the property.Thanks,Matt Make sure the mutually agreed contract is compliant with DPBR, some states are very specific regarding flat rate vs T&M contracts.

At $200,000 an acre for flat zoned RM with no entitlements to $350-400K per acre with.