Also unless there is any specific termination clause, tenant is responsible/liable to pay full lease term.I think there were specific outlier in Texas that allows tenant to exit without penalty, but it does not qualify for any of them...2.9.1.

San Antonio / Central Texas should be some solid areas for BRRRR strategy - I'd be a little careful in the gulf coast areas like Beaumont though - a lot of weather risks that unfortunately keep popping up

When you are renting to multiple people it is their responsibility to get along with one another, not yours.

You've got some really good responses above.  

I'm going to connect with you so we keep in touch :)I appreciate the response.

Solid wood and plywood. 

But I’m not sure how that would be structured and I can’t seem to find any solid information on how to handle that.

And if you hire a property manager, deduct another 10-12%.I think this property could work if you are careful to set aside the cash flow and build a solid reserve.

Exactly as david said, putting the responsibility of replacing the furnace filter is a great way to enter the property and make sure that things are all OK. 

This higher return reflects the increased risk and responsibility on the buyer to secure a large sum for the balloon payment or refinance the loan within 5 years.