It seems like a sweet deal to purchase a house with a Rent to Own tenant as they pay for utilities, repair and maintenance - and I wouldn't need a property manager since I am out of state.

Do we have (state by state) benchmark utility cost data I can use to compare my bills to?

You can use a custodial account or if you wish to have more control special purpose LLC can be utilized to gain checkbook control and minimize custodian fees and eliminate their involvement in the investment. 

Obviously, people will always need a place to stay, but they might not necessarily need luxury vacations when times are hard.Still, all things considered and all other factors remaining the same....

@Willie R.I agree with Account Closed that title companies in Texas utilize Texas lawyers.

Have you utilized the BP Calculators to assess your rental business?

Where are your expenses for legal, advertising, janitorial, utilities, etc. ? 

The utilities are still in and the survey has been done.

I can't get the utilities arranged, nor an electrician lined up to fix some issues ... without knowing the move in date.Suggestions??

I am a CPA with more than one real estate business that utilizes a home office deduction (including a brokerage).