Based on economic and demographic factors alone, there are much better markets.

Even if you hold it for a year, it does not qualify for long term cap gains as your "intent" would make it still a short term tax treatment.

ONLY downside is I am told they can be stained by foods but a good sealer and bee's wax treatment goes a long way. 

I'd say the #1 factor in how successful you'll be with them is who you buy through, i.e. the team.

@Lin-Chuan Lee in my rehab #s I included all inspections, legal & oops factor, etc.

Another big factor you have not shared is what is your payment arrangement.  

@Jacob SampsonI think the deciding factors would be determining how much of the $995 is going to building equity and what other factors are in place to offset the negative cash flow.  

Here in Dallas it doesn't really slow things down much, unless it's a family home, where people may not want to move, during the school year.With all that said, there is a reason you have a vacancy factor included in the holding cost of your rental.  

That's going to be tough for premiums as it takes a ton of factors into account.  

You will probably also want to repeatedly bomb the place for fleas....they may have had the dog on a treatment but the eggs can still hatch after the fact.