The unit is currently in deplorable condition, including 40-plus-year-old windows and a non-functioning furnace.

Should I put anything that specifies the house isn't in the best condition?

Condition, location and maintenance needs are very important.One tenant factor you may run into is the affordability of c/a. 

Seeing if this fits anybody's criteria:neighborhood: Inwood North77088Klein ISD3/2year: 1981sq/ft: 1557Rental comps: lowest comp (1) is $1250/mo.....majority of others $1300/mo and upARV: $120k on the conservative low endAs far as the condition goes.

Now that I some money saved up, my plan was to put a down payment(FHA loan) on an apt for around 200k-250k, size, condition, and location is similar to my current apt.

Now that I some money saved up, my plan was to put a down payment(FHA loan) on an apt for around 200k-250k, size, condition, and location is similar to my current apt.

Lender isn't going to give conditional commitment with no specific property (nor would a private investor with no actual "deal").Just wondering how this has been navigated by you experienced folk. 

You might also have to put in some work to get the deal in some houses and get them to rentable condition.  

Perfect location and in superb condition!

On the flip side, if you pocket the money and let the PM service suffer since you travel alot and can't answer tenant issues such as leaks and other important issues on a timely basis, then it may backfire and cost you more by neglecting your tenants and unit condition...