Just because it covers their butt to cover the first few months in taxes.

Pull the plug now and get a qualified tenant in there that is willing and able to pay rent on time.

Which is kind of our goal as residential REI-friendly lenders: to get them to the point where they're Warren Buffet or Donald Trump, own too much cashflowing real estate for Fannie to handle, and thus can't get gov't subsidized loans but can continue to kick butt using commercial.

The only down side I can see is if I didn’t do my due diligence, and there was a lot of repairs to be made on the property, or other things, like hiccups that sometimes lurks in the of the title, that could cost me butt load of money.

We mostly had trees down, screens out, fences down, shingles off, etc....can't speak for Houston, but t I'm sure there is more water logged properties there, could be more "deals " to be had there

Nail down your numbers and plug them into the BP rental property calculator, if you haven't already. https://www.biggerpockets.com/buy-and-hold-calculator

Also it's on a corner lot and butts up to a school.

My goals for next year are to 1) get a few deals under my belt to build credibility and experience and 2) get plugged into my local RE community in Atlanta.

If you can't, then plug the numbers into your model, and make sure the deal still makes sense.It looks like you're pretty far along this deal, since it's supposed to close in 3 days, so i'm guessing you're in a take-it-or-leave-it situation.

Did you use the BP calculator to plug in taxes, interest, vacancy, PM, etc?