Patrick,I don't have any experience in the Texas market outside of tax liens so I would not be a good source for you for what you are looking at, unfortunately.

If the Premises is destroyed or becomes totally uninhabitable or completely unfit for occupancy through no fault or neglectof Tenants or a person under Tenant's direction or control, the Landlord may, at its sole option, terminate this Lease orrepair damages within 30 days.5.

Solely looking at the after-debt-service cap rate, it doesn't look great.

This means that then new LLC is a single member LLC and has elected to be taxed as a sole proprietor. 

Once you have the owners name a good free source for contact information is https://www.truepeoplesearch.c.... 

@Adam  Oldhan Still looking for a source where I can see permits on a property before I order an inspector ...

It also must have elected to file taxes as a sole proprietor. 

I'd recommend checking out the BiggerPockets Bookstore and checking out the book on investing with little or no money down.Your options will be limited with no capital or credit so I'd also focus on saving $, additional income sources and building your credit.This is a marathon, not a sprint so do not get discouraged if it takes time to narrow your focus down to a specific location, investment strategy or property type. 

Usual is 3x rent, sometimes you see 2.5X rent.Your idea on deposit besides being illegal would be very bad for your units as there would be little justification in them taking care of the unit.Items that we list as mandatory to qualify for our units: No evictions (ever), Verifiable income 3x rent from sources that are at least present for 6 months, Cannot have been in more than 2 residences in previous 5 years, no missed rent payment on credit report, good credit, non smoking/no drugs, about 75% of our units do not allow dogs or cats, strong LL recommendations. 

I've gotten advice from multiple sources, each saying their own pros and cons.