Or lets their meth-head friend crash for the night and their pimp comes by and they end up stabbing each other.No, SFHs don't make one lick of sense to buy as rentals in Houston right now. 

The property taxes are unpleasant but don't make my properties bad investments.

I'd suggest reading up on the topic on the forums, where you'll find many examples of inexperienced investors crashing and burning hard trying to do OOS REI...the story is usually the same--they had no experience with REI, they couldn't find any cashflowing properties locally, but they saw that properties in other states (often the Midwest) cashflowed well on paper.

And I believe we may be over leveraged with something like 7 300k+ homes where a few possible vacancies and/or large unexpected payments could make it all come crashing down.

The debt market crash was one of the major factors in the Great Recession.

Even if there is a crash, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.And during inflationary times, our rental rates increase.

People get frustrated when you talk too much explaining something that is unpleasant to them.

The last crash was too early into the age of the fractional to tell us much. 

Millions upon millions of jobs lost "forever" ("exported" to the "third world"), more millions lost half or more of their retirement accounts, creditors slashed and burned consumer credit to the point where, by the banksters' own numbers, some 74% of Americans wound up with "bad" credit (it was only 47% before they did that), ...Now, add in the knee-jerk responses in the lending industry and you've got a situation where only the elite of formerly middle-class wage earners can even hope to qualify for new home loans.In fact, the given the current housing shortage (yet more fallout from the crash), it is ONLY the dearth of lending which is keeping home prices from launching into interstellar space by suppressing demand.

As unpleasant as it may sound, I would suggest calling the Tax authority in KY and tell them what your doing and what you need to do.