Cons are the cost involved in (both time and money) and loosing out on having a professional to guide you through the process. 

But you can also loose some or all of your money if you do not perform your due diligence and watch your investment closely.Happy investing.

., find a handy man or roofer to replace the vent with a new one, seal up around it, and repair any loose shingles.Will be substantially less than what you're talking about.

But if I remove all contingencies, I loose my earnest deposit (ED) if I pull out for any reason. 

I will see if the water company has a way to put some kind of alert in place, to notify me of a future excessive water usage.

It is likely that you will end up with a policy in the Excess/Surplus Lines (Lloyds of London or similar). 

Does anyone know of a lender in TX that has more loose rental terms? 

Moral of the story investor used the calculator and beat me down and well I will not discuss how much money I'm loosing on this project. 

Do I raise the rent and make $600 a month on passive income, keep the property and chance this home not appreciating much more bc of what's currently happening in Florida with excess amount of inventory sitting there?

While these companies can offer convenience, it's crucial to vet them thoroughly to avoid any unpleasant surprises like excessive fees.