Its been very hot there for quite some time. 

We have been RE investors for over 20 years so we do have quite a bit of experience.My question is about north of Dallas.

The lower the rent, the higher percentage of acquisition costs; if rent were $300, seeking 3% might not be a bad idea."50% rule": this is quite different from 1% and 2% rules.

With a buy and hold philosophy you are accomplishing several things to give you the "out" you'll  want to quit comfortably one day.1.

I had a junk removal guy come to give me an estimate and he said he wouldn't take the steel cartridges (which, btw, are quite heavy.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

I do get disability, as I'm quite hard of hearing, which might explain my part-time status.

I'm not quite sure if $20k is  really enough to buy a performing note. 

Before we could post a 3-day notice to quit with cause, he paid partial rent for June.Can we still go ahead with the 3 day notice to quit with cause for subletting, having a dog and changing the locks even though we accepted partial rent? 

The market seems to be quite hot, and I cant even get a property for the asking price.