It sounds like you are off to a good start. 

You'll be seen as an experienced investor with your 5 exits (assuming they've been completed within the last 36 months).I'm in San Angelo, TX so about 4 hours away from Dallas.

Also, if they balk at completing one (which doesn't happen to me much anymore), you'll know they're a tad shady, and you can choose whether to work with them or not UP FRONT. 

I have complete confidence in their ability to pay their share of rent but my concern is with the City's portion as I have heard first-hand accounts and bad cases where the City has delayed payments, delayed processing of renewal for voucher holder (and thus payments) and lack of communication.Are there folks here who have had a good experience with CityFHEPS and the City's ability to pay on time? 

I don't know how crazy this sounds but my budget for a single family home in this area is 750k.

@Chris SeveneyI agree completely.

There are still a large portion of wholesale DSCR lenders that will do a 30yr fixed DSCR no problem. 8% sounds pretty standard right about now.

A complete disaster.  

I am looking to buy properties completed in the past few years, or currently under construction. 

It all sounds like a good deal but the house is honestly in shambles.