I've seen some range from $150 per month upwards to $500+.

If I compare the rental income to the PITI payment it's actually just positive, but with other expenses (water/sewer/trash and capex, calculated by using 8% of rents), it turns into ~$500 month coming out of my pocket.

The home is fine, but I've found some water damage in the garage wall (where an ice dam backed up) and would like to replace the drywall and ensure there is no mold present.

Selling for about $230K range.

I currently live in the DFW area and rent a 1 bedroom apartment for around $876 a month, maybe $1000 with water, electricity, internet, etc included; my lease ends at the end of May.

If it has city water, you won't need to test the water.

For that price range you may have to look further out in Mesa/East Mesa/Queen Creek, those are all about 25-30 min drive to Intel.  

Hi Tom, I wouldn't say you are dead in the water, and without seeing your tax returns I can only speculate, but a few notes before you assume that you can't get a traditional mortgage... 

So i went in theough the basement, water everywhere dripping from upstairs.

I have noticed that there have been a considerable amount of properties selling in the $100-$130K range in the last six months.