Nobody on this forum can properly answer that question for you as there are too many variables. 

Given that you live in Dubai, have little experience and are unlikely to properly scout Houston, the latter is your best option.

Or do I need to tear it back open and install proper supports?

Even before the covid moratorium, they could live there for up to a year without paying anything until the city finally sends the Marshall to kick them out, provided you took immediate proper legal action (and they know how to play the game).

I'd say equity is going to be bit trickier properly if you want to have it legally defined.

Nothing is more valuable than knowledge when applied properly.

At tax time, we really relied on the end of year reports we got from Stessa to properly complete our taxes. 

It’s really a matter of assessment of proper rents and knowing your rehab costs.

Since they were all month to month, I provided the proper written notice, and followed all the rules, and eventually cooler heads prevailed, the tenants all moved, and I provided a free moving truck on moving day.

I ask them to ensure the apartment is in tip top showable condition, pay for advertising and pay rent until a suitable tenant that is properly vetted can be found, just as they were.