This deal was a little magical - I was outbid in this auction (see section below) and only managed to procure this property by chance.

Or, Not a chance and run for the hills 

The more offers you make at your price the better chances of getting a deal.

This deal was a little magical - I was outbid in this auction (see section below) and only managed to procure this property by chance.

As Amish Tolia said you were light on some stuff but conservative on others and overall if it’s in good shape has a chance to perform nicely, especially if you included the debt service from the HELOC.If stuff at these numbers is attractive to owner occupants as opposed to just investors then exit is much easier (and more profitable) and you have a few thousand in pay down to include in your overall return.

While you are correct, the reality is in Texas a landlord has very little chance of collecting due to our Homestead protections. 

Did I screw up a deal before it even had a chance?

Getting somebody who has a vacancy and is tired from the business could give you a chance to pick it up for below market value and they can save on Realtor fees rather than listing.

I am interested in learning from anyone that does Wholesaling, Fix & Flips, Buy & Holds, A Real Estate Investor, A Commercial Real Estate Investor, anyone who knows about Real Estate, I would love the chance to pick your brain. 

So I took a chance & withdrew enough to buy another property.