Even closer in, like Round Rock's Teravista neighborhood where the prices are double that amount, the rents are not keeping up with prices.On top of that the taxes are going through the roof.

Enough elementary economics, another true saying, "poor people have poor ways" being poor is often the result of the ways selected to achieve something, slapping tar on a roof when it should be repaired,  later water damage causes a greater loss and the roof still needs repaired. ( "A stitch in time saves nine" comes to mind as well).  

Roof is 10 yrs old and the property was build in 2005. 

I don't withhold $12.37 per month to replace a roof in 20 years on a SFR.

The same thing with roofing, etc. 

-The property has a ton of deferred maintenance including needing major HVAC and Roof work as well as big time reno inside.

Will there be deferred maintenance expenses in the near future (roof, HVAC, etc)? 

In my case it was an incorrect roofing for low slopes that hadn't been stressed tested like this season.

I would say bank statements, taxes, rent roll, leases, utility bills, worker contracts, 12 months of maintenance logs, capex report (age of roof/mechanicals), and a trusted local property manager of your own to help you review your data.  

E.g. the roof is 10 years old, has 15 more years of expected life, expected cost is $XX, amortize that over the 15 years.It's obviously a lot of work, but you'll get a good sense of what the expenses will really be.If your gross rents are $3200/month, or $38,400/year, the 50% rule would expect $19,200/year in expenses before debt service.