But are they worth it? 

Cash flow-oriented investors would do well in this market, since Montgomery’s rent-to-price ratios are very favorable—for instance, we’re seeing $150,000 properties in B/B+ neighborhoods fetch monthly gross rents of $1,200 to $1,300.By the way, if you’re looking for financing, a debt service coverage ratio (DSCR) loan could be a good option for you since you’re an international investor.

If not you can do a DSCR loan or a fix an flip loan, there aren't any income requirements for either of these loans, and with $70,000 of Cash, this should be easy to get financed. 

You might also have to look into licensing in order to manage someone else's property and see if that comes in to play and how much that might cost.The next question, once you realize what your potential cash flow from this will be, is if the time you spend on it, worth the extra cash you will get.  

Given your situation, seller financing at 7% might be the better choice since it provides some cash flow, even though you lose out on tax benefits.

Purchase price: $175,000 Cash invested: $40,000 Single family residence, 3 bed, 2 bath, 1740sqft What made you interested in investing in this type of deal?

Isn't that worth a try?

Sure, this COULD be a cash grab by the city, but maybe there are some good intentions behind it? 

If they are "verbal agreements" paid in cash or something like that, yes that could be an issue...

I eventually want to buy properties in the Fort Worth, TX, area, as well.