Before crunching the numbers more or even thinking of making an offer, I have a few concerns:  I'm in Austin, that means building a network of contractors, agents, etc. in Dallas that I don't haveI'm busy at work, and am not a full time investor, is it possible to be "hands-off" and still be successful on a first rental like the one I'm considering? 

I also have the money in hand to invest so I do not need loans etc!

Remember that you can:Visit the town/city website to see their plans for the futureAttend town/city meetings to influence those plans and get first hand information on what's being planned.I live in the Triangle, NC and wish I had been more involved in the downtown plans of the cities here (Raleigh, Durham, Cary).

Also I read all the HOA docs and the CC&R's before I bought so I knew exactly what I was getting into before hand, i.e.

I know there is so many things that I can not and will not actually know until I just get over my fear and do it hands on.

If on the other hand you are retired and have more money than you know what to do with why bother.

I'm thinking even if I got the note into the hands of the 3rd party they would need to foreclose on me, purchase the property at auction and sell it back to me to clear her name from the deed.

Is it an option to transfer the title of our primary residence to my husbands name so they wont "count" that mortgage against me?

The tenants did not acknowledge any issues they are having and my take away is current owner is hands-on based on the condition of the property.

Except, in NOLA, there are only a handful of property insurance carriers.