Our house is in Spring, Tx and with the growth that's been going on in Houston, I really think the long term housing market is pretty solid.Monthly Expenses:Mortgage Payment - $1,042.85 (Includes P&I, Insurance, and Taxes)HOA Dues - $45Repairs/Maintenance - $257 (Roof, HVAC, and Water Heater are from 2016 - plumbing is all galvanized)Property Management -  $160Total Expenses - $1,504.85Estimated Rent - $1,600It's a pretty thin estimated monthly margin of $95.

If they pass that portion, then you can confront them about the extra dogs and ask for more rent for the additional dogs and a higher security deposit because more pets = more property damage.If you do rent to them, an important note is that many insurance companies don't cover pets like pitbulls when it comes to lawsuits so make sure you are aware of the specific laws in your city/state when it comes to high risk pets. 

The experienced landlords in the Greenville-Spartanburg, SC area tell me that there was a time when two months’ rent could pay property taxes and insurance for a SFH.

I would suggest getting umbrella insurance.

It makes you eat the bank's insurance, so to speak, because if you accept the cheaper price, and the buyer defaults, the bank knows it can get its ratio back out of the property. 

That falls right into line with some of the articles on here which suggested around $180/m per house.This house is in good condition and I still result with a fairly high budget.After all of my expenses (mortgage, taxes, insurance, maintenance, vacancy, pm, lease fee) I am left with a Net Cash Flow of $180/m.

I sort of believe him, but I think this guy would be consistently late if not for the auto payments.One nice feature of these payment services is if the tenant is late with rent payments, it's reported to the credit bureau.

With your lease, make sure you have an early termination clause, pest control, pet fees,  and the # and limitations, also I would recommend requiring renters insurance.     

Taxes and insurance are high here in illinois to where we're paying 400 to 450/mo. 

Some brokerage wants you pay $2500 insurance in lump sum not to mention most have desk fee, technology fee, background checks.Suggest wait til you move to NC.