I believe the interest rate is a bit higher than your normal mortgage.

It creates a lot of friction with other tenants and normally creates a poor work life balance for the manager.

the tenant. arbitrage would be someone having a long term rental agreement (usually at least a year) and a landlord isnt normally going to be paying the utilities in those cases

Perhaps someone with more intimate knowledge of the area can validate or dispel the type of neighborhood this is but it’s normally not good if that’s one of the first things to populate on the internet.

Opinion has no place here.Note:Luck is 50-50.What everyone is content with and labels as "normal" is 0.03-99.97.

I'm starting to feel discouraged, and wondering if anyone has any recommendations (wait it out or sell), or if this is normal(doesn't seem like it)?

People that join for a quick gain and leave a wake of problems behind them, but these are rare and he just recently announced a clever way he’ll be dealing with that too.

A lot of other markets 20 years from now could be ghost towns with little demand.But on the flipside, that safety/security comes with lessor immediate returns, as is a normal balance with investments (more risk traditionally equals more short term gain potential). 

I agree with @Brandon Rizzo I think the supply will normalize as the migration to Texas has not slowed down and as builders make correction to a more balanced supply and demand (along with interest rate improvement) housing market will be better.

from an insurance standpoint it would probably dramatically raise your insurance costs as treehouses are normally looked at as a huge liability for injury.