Give them a cut. 

I plan to pay off the loans in about 10-15 years and will be refinancing with a private lender once I'm done with residency to cut the total cost down as much as possible.

took out the Managment fee and the lawn care.

So be careful at selecting the right now.

People always look at the ARV and say there's plenty of equity, but lenders care about as-is value because that's what the house sells for in its current condition.  

Usually for these sellers it means nothing and that they did the cheapest crap possible with some carpet replacement, paint, and new knobs and maybe some fixtures if your lucky.I could care less about such items.

I work for KCS Railroad, I have a family and home that I take care of.

If they are paying and taking care of the place I would not rock the boat too much.

Doesn't TX in general have high property taxes as well that can cut into cash flow?

Ex: If I have someone that wants to book long term I'll find out what their total is from VRBO/Airbnb and I can cut a deal with them where their price comes down and my payout goes up.