Renovated all apartments, converted M2M tenants to annual leases, instituted strict rental criteria, implemented online payment portal, invested $75,000 into leasehold improvements (HVAC, drainage, exterior paint, concrete.)

Foundations are endemic and you need to be very well-informed as to the neighborhoods. for out of state I concur with 39211  and some of 39206  the other zips are south jackson which can be very block to block and in my mind more appropriate for a local in the know investor like Susan..  39211 is a very nice mixture of owner occ and rentals where a fixed up home will retail and retail for a nice profit many times.. 

I'm looking for ideas on how to handle a potential bust cycle and prevent it from blocking my progress towards acquiring a second property.

I have tools for everything from concrete forms to finish carpentry

Looking at my first property and there is a severely intense odor in the basement (concrete) and some slight orders on the other levels of the house as well (hardwood floors and carpet).

Louis is indeed block by block

If I am going to the more affordable area, I'd try to stay within a block of Kensington Ave versus further in, if that makes sense.I've spoke to some PM's in the area, anything specific you're referring to? 

I would ignore/block those emails, if I were you.

If I am not mistaken the current rule is a 12% STR "occupancy" on a given block face in Bexar county.

So we had to manually block off the dates for about 80 reservations across a bunch of properties.Well, we missed one and accidentally took a booking on our listing for dates that should have been blocked off.