These vehicles belong to people who also live in your neighborhood?

Only cost is buying a drink and/or food & tipping the waitress.  

The money belongs to the renter until withdrawn each month.

Our belongings stay locked in there.5) You can let guests with prior reviews book instantly- you know other hosts verified them so that's a little relief.

If the rents keep rising in Dallas like they are in Austin, then it shouldn't be long before your monthly living expense is ridiculously low in presumably a primo area. $2k in Austin gets you a nicer area and I am assuming that is about the same in Dallas.What are the renovation costs?

Have you considered installing a Drinking Water\ice machine on the property?  

Hey JasonI know you don't want to fasten it directly to the roof but for the safety of your tenants (especially if they're drinking) I think that is going to be your only option.

But my biggest worry is how sustainable the rent/cash flow would be long term and quite frankly my condo would probably go for more than it was ever worth in the 07 bubble.

Even if he were to miss payments or create a hardship to qualify for a short sale the process would be long and tedious and if you were the one placing it under contract many banks will not allow the contract to be assigned.

@Deren Huang, yes I do larger but I also have access to smaller unit deals that are not on MLS as most commercial brokers don't belong to the residential MLS