I am a search and rescue/EMS helicopter pilot for the offshore oil industry in the Gulf of Mexico.

These are the folks who helped me make lemon-aid out of 40 lemons... 

When I was living in downtown Dallas from 2006 - 2011, the economy was still recovering from the oil bust and savings & loan crisis from the late 1980s.

Add In the cash flow eating dues and any macro factors (oil at forty bucks, condo supply, etc) or preference for sf and it could be a number of things within the association or outside it...

Renters are low income, Section 8 in the smaller 2 BR units, large and/or extended family living together in the very large (4-5 BR) unitsPurchase price 265KLoan 265K, seller pays5K closing, 4.67% interest rate for 30 years, $Taxes $4251Total rental income $4665 month (1 5BR unit, 1 4BR unit, 2 2BR units) – rents are maxed for this area, they are high because of the size of the units, they all have washer/dryers, and small dogs/cats are allowed.Area average vacancy rate 14% Property management 10% of rentProperty insurance $1800/monthMaintenance $5300/month (I budgeted high, deferred maintenance on this one, will take a while to catch up)$281 annual electric for common areas$1388 water/sewer$2400 annual Cap Exp (estimated roof life as of now – 20-25 years, heating system – 15-20 years$6100 heating bill (oil) last year20 K is needed to repair foundation issues and one bathroom in need of repairs (I'll pay out of pocket next spring).Your thoughts?  

.$0.23/lf for shoe mouldingI like the $25 a gallon oil-based gloss paint sold at Walmart (rustoleum brand)

See also https://www.biggerpockets.com/forums/585/topics/269437-20-oil-and-non-houston-markets

On older building we don't want either oil or electric heat. 

Agreed, the market here locally is far too volatile and oil dependent, I am definitely looking elsewhere.

I currently work two week shifts in the oil industry, and during my time off I have been building a home improvement business.