I think you will be challenged to build a 1400Sqft new house for 100K in Dallas.

Curious as to what challenges a situation like this may present an investor working through a property manager.

I live in Southern California and for my particular situation I know I will be investing in out of state rental properties in the Midwest, because lets face it the buy and hold strategy is pretty unrealistic for my local area.

Done wrong, based on you and your market, and you face bankruptcy.

It's been a challenge finding a great brokerage thus far. 

Need specifics on what the actual situation is....Lets face it...... there are lots of situations where you will never be able to 100% prove a tenant is at fault for something that breaks or goes wrong.

I wanted to also challenge myself so I also ended up installing a niche on the back wall so the tenants could place their shampoo bottles inside.

On top of that, you will not be faced with underwriters giving you 1/3 of the income but hitting you with the full liability. 

I would add that the strategy of bidding lower than total debt has been successfully challenged in many districts if the servicer goes after the borrower for a deficiency later.

Nothing beats face to face meetings, building relationships and boots on the ground.