This is unlikely to be profit, this is to cover your costs on the backend at move out.Secondly, find a good pet addendum and have them sign it.

Or should I wait it out a couple of years until I have a larger amount saved up.

The plan is notorious for minimum insurance and they were previously capped at $20M for larger commercial and HOA properties.

Consider offloading an underperformer, or a high equity property and getting better, larger or more assets.

There are plenty of other markets you can stay legal in and even turn a profit.

Take those profits and pay off the rentals.

Suggesting to them buying their house for a wholesale range offer or lower dependent on the extent of the rehab, then having a contract in place that gives them a percentage of the profit to help get them back on their feet, paying off debts etc.

Caveat is that you should be reinvesting those profits back into other smart investments so that you aren't missing out on compounding gains. 

I would keep your house even if its a a bit negative as you won't be able to sell for much profit or any.

@Dallin BlankFoundation issues are common in DFW due to the clay soil, but many investors still profit by knowing how to assess and negotiate these properties.