The rents are well below market, but probably consistent with the quality of the dwelling. 

I am a Marine Corps veteran who was in the  administrative field and I am currently working as a Human Resource Specialist with a government agency in the DFW area.  

And in those neighborhoods, you may be the first tear down, never a great position to be in if resale is part of the plan, I do some work with Habitat for Humanity and we have been able to get some lots for under $200,000 but these are not lots that would support a new luxury build. 

Here are some options below:1) Keep 5 geico personal landlord (fire-dwelling) policies, increase each to 500k. get State farm commercial umbrella for 1 million.

@Kevin KimIs there ever a wrong time to start investing in your future by having the right renter (you will check their back grounds thoroughly) help you pay off your mortgage while enjoying all the tax, HELOC and other benefits extended to multi unit dwelling owners? 

Thanks for the input, that's good to know there's a human presence in the market checking out the properties!

In general the insurer wants a recent survey to consider it for a deduction on your insurance.Do you have wind mitigation devices for the dwelling?

Landlord intends to install and/or replace a keyed deadbolt on each exterior door of the dwelling.

I just discovered Habitat for humanity is starting to build on some of them.

. Ownership of a multifamily property consisting of more than four dwelling units. Joint or total ownership of a property that is held in the name of a corporation or S-corporation, even if the borrower is the owner of the corporation and the financing is in the name of the corporation or S-corporation. Ownership in a timeshare. Ownership of a vacant (residential) lot. Ownership of a property that is held in the name of an LLC or partnership where the borrower(s) have an individual or combinedownership in the LLC or partnership of less than 25% and the financing is in the name of the LLC or partnership. Ownership of a manufactured home on a leasehold estate not titled as real property (chattel lien on the home).