There are many factors that play into this and not everyone is able to.

If you don't think I could qualify for a loan under my current circumstances, let me hear it.I want to contact a mortgage broker to get preapproved for a loan but I don't know if my earned income, as well as other factors would allow me to qualify.

I assume those factors drive price.

Is that based on an appraisal with your improvements factored in?

Based on economic and demographic factors alone, there are much better markets.

I'd say the #1 factor in how successful you'll be with them is who you buy through, i.e. the team.

@Lin-Chuan Lee in my rehab #s I included all inspections, legal & oops factor, etc.

Another big factor you have not shared is what is your payment arrangement.  

@Jacob SampsonI think the deciding factors would be determining how much of the $995 is going to building equity and what other factors are in place to offset the negative cash flow.  

Here in Dallas it doesn't really slow things down much, unless it's a family home, where people may not want to move, during the school year.With all that said, there is a reason you have a vacancy factor included in the holding cost of your rental.