But, the more you ask, the more details you seek, the more likely you will expose their true understanding and ability to manage managers.3) Again, this is all questions.  

I'll get with a CPA next week to understand REPS status better. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

These are just example numbers that are very assumptive, but I understand the basis of the question. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

If you chose to invest out of state solely because of the numbers I would really reevaluate the deal, fly/drive to the local area and really understand what you are buying.

From my understanding few lenders loan on just empty land.

So I'm understanding this correctly, did you do a cash out refi on your primary residence then took that money and paid off the rental in Dallas.

If you don't understand something, ask the PM to explain.

LOL  a softer way to say this is if your simply looking to become a landlord this is a very easy subject to read up on and learn and understand U do not need to pay someone to teach it to you.