Get on Marcus and Millichap research on different markets, TX is the size of France, you want to at least have an idea of some submarkets ...mostly because what makes sense and works in DFW WILL NOT in deep west TX etc. 

If there's a deep pocket somewhere, somebody could be on the hook (such as the management company). 

Start with the zoning board and take a field trip down to City Hall and do a little due diligence before you get too deep into the project and weigh the equity benefit of such an improvement. 

Im already in deep on this thing but Im getting burnt out and Im almost only finished with the first unit.Thanks for your transparency. 

There is still always a chance but we are buying at deep enough discounts where we assume a worst case scenario rehab on the ones we purchase in franklin county and delaware counties and columbus surrounding areas. 

-This one sounds very simple, but just breathe....

Put it in a coffee can and bury it 10 feet deep in the forest.

There's just not enough breathing room to beat the odds long term. 

This scares me as I'm super new to real estate, and don't want to get in too deep with less experience.  

Property taxes, hoa dues, utilities (if paid by landlord) will easily put a 1% property deep into the red.