Maybe it's the mild winters or the lower prices compared to the West and Northeast.Of those five cities, I would investigate TN or IN with only $40K to work with. 

If it's low equity I generally show them -Selling w an agent, paying 8 to 12 per cent in not just commissions but closing costs, sellers concessions, waiting to sell costs, like PITI and utilities, and spruce up costs like fresh paint or mild landscaping-Renting, paying a property manager, risking damage and eviction costs, lost rent-option one - Owner finance - I take over PITI and maintenance -option two - I find a lease 2 own buyer for free, 24 payments, then house mortgage is paid off, you pay insurance and maintenance Seller picks his solution If he picks option 1 or option 2, I tell him how fast I can do it, and I dictate terms, I am the solution provider

is pretty mild reply. 

For years, the mild climate and attraction to the Ocean attracted many high promising technology to call it home.

It has already been redone nicely inside/outside but I'm told it has a mild cigarette smell somehow.

Be an employee of the owner working on a salary with NO bonuses or commissions.You don't mention what this girl's legal setup is, but you don't want to get in bed with someone just because the tenants love her - the nightmare will end up blowing up in YOUR face, not hers if she does something even mildly incorrect (read ILLEGAL!).

@Sean Gallagher, "a little sketchy" might be putting it mildly.

J and I believe the reason the housing correction was mild in 2001-2002 was due to Alan Greenspan cutting interest rate to 1%.

I'm getting a mild case of sleep deprivation!

If there is no work for them for a few days as is common this time of year in Texas due to mild weather, then that's all there is.