If the tenants don't care for the pool properly, it could cost you thousands to fix.

No problems with rust but do have to deal with hard water; they have a chemical treatment called a pillow that takes care of that.

The code being cited by the inspector is below if you care to bother.Thank you.https://codes.iccsafe.org/content/IPC2021P3/chapter-7-sanitary-drainage#IPC2021P3_Ch07_Sec708 Could you put cleanouts within the interior (is there a basement?)

If you don’t care about maximizing loan amount then you could start whenever.

As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

Regarding leverage - use it carefully!

However, hauling away a truckload of items and cleaning beyond standard expectations could reasonably be charged to the tenant, as it goes beyond normal use.Goodwill Gesture: Since this tenant was great for 5.5 years—paying on time and caring for the property—you might consider waiving part of the cleaning cost as a goodwill gesture.

My experience with S8: There is a reasonably strong correlation between S8 tenants and tenants that do not take care of a rental property. 

Careful going outside state lines -- contract for deed is not allowed in Texas.I didn't think COD is illegal in Texas, just perhaps not recommended anymore, because it is difficult to comply with the rules or regulations. 

Care to share the details?