Also, some of the properties in Old Pearland was damaged by Harvey so there might be a further discount available.Is my thought process correct in eliminating Friendswood from my potential markets to invest in?

Check out her prior rental history, even if it's from many years back, it may be significant.Retain a security deposit that will cover your needs should she default in paying her rent and/or cause damage to your property. 

The problem with pretending to be something your not is ( I know you technically are still a property manager) they will eventually find out and will consider your word and your ethics to have no value which will damage that trust .

Back in early April i received a call from one of my properties claiming that there was water gushing out of the ceiling. I get over there & water is pouring out of the radiant heat system underneath a window. I s...

According to my contractor, the fix to prevent further damage seem to be simple, seal the gap between the trim and window, clean the gutter, and replace the drywall on those areas if needed.

There are ongoing issues with walls (little cracks) which cause little water damages in my 2 bathrooms and living room.

We have all heard about the damage college students cause.  

The tenant hassles, turn over and damage are just too high to make it work,

As to fire damage, that would not scare me away at all.

I’ve had WAY more damage from leaking water supply lines than intention tenant damage, most horro stories are just that.