Our investment horizon is about 10 years or less. 

Given the economic horizon, I want to be sure all my debt is easily covered by rents.

Make sure that you have the right resources and contingency plans in place before tackling a project.Waiting period: BRRRR is a strategy associated with a longer time horizon, which includes at least two waiting periods.

I would personally consider moving your time horizon up some, and getting an 80% LTV loan.

He does get listings that way but it is longer time horizon.

With a minimum 5-8 year time horizon we feel confident of getting our money back when we sell (assuming a 1.5% appreciation rate). 

So we will wait it outIMo if you have long term time horizon, I am sure you will do ok,  If you are looking at Dallas as a super high cash flow market over the next couple of years, I think there will be some disappointment.

To earn the same amount of money I have in real estate at a job so I can invest in the market would have extended my investing horizon by 15-20+ years (and caused me tons of sleepless nights). 

That being said, any endeavor over a long enough time horizon runs the risk of having legal issues.

5) How old are the major systems in the buildings and what large ticket CAPEx items on on the horizon?