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Income  Realtor advised amount to easily rent quickly. $700.

In Dallas we easily see $2K rents in tonier locations where Class A likes to go vs $1K rents for value added in decent areas of town.  

@Chad Duval As Thomas S. said, your contracts are of limited term and therefore can be changed very easily (i.e. basically every month) as long as you notify the tenant of the change as per timeframe described in the lease (and/or local laws, whichever applies).As regards your statement of "making money" on those pets:  while I get the idea, you probably won't make any due to the additional wear and tear, if not even damages caused by the animals (as a broad and general statement; I personally know no cat that would ever pee on the carpet unless their owners are reckless idiots and don't properly provide for them).

You can't easily get a mortgage for a home in an LLC or other entity without putting 20% down, so buying as many as you can in your name will allow you to put less down if you occupy the property.

You should be able to easily refinance for 75% LTV or 80% LTV of appraised value and still get good terms.  

In a different part of town, the owner may accept that price, but once you own the property, you may find the area is undesirable and it is difficult for you to easily find high quality tenants.

I think you should be able to find a deal where your rental income can cover your mortgage payments as well as utilities easily.

The 2 bd unit which is renting for $1.4k could easily be rented for $2.6k (I lived in a 2 bd 1 ba unit down the street last year and paid $2.4k, when I left he rented it for $2.6k.

I use multiple landscapers and I am able to manage my homes easily this way.