You notify them you will be purchasing the policy for them and doing so with their security deposit money, if state law allows it. 

If you live in Frisco, everything you want to do is in the area. 

I know I can't have it all but looking for a stable appreciating with some cash flow and a turnkey SFH.

That's what we do and we basically tell the students that "if we aren't willing to invest, it's not a good deal and you shouldn't do it." 

Zach's in it for the long term.

It's just a math problem and if you've done the work up front you shouldn't second-guess yourself.

Here is my account LOL, I don't know why it logged me in the other way without my account connected.

Please look at the @b part of the form I linked and let it do the math for you. 

I realize it's just an example and my comment is a generalization but just something to be aware of.With regards to the original question, I think it comes down more to what you want to do and what the offer is for walking away vs. rebuilding.That is the exact example a public insurance adjuster used when speaking to a local investor group a few years ago.

It turned out this was his first time appraising one.