I think I'm safe there but I will double check the law.

Also, in times of economic instability there are no "safe" regions or safe metro areas.

Better safe than sorry.

As long as I provide clean, safe, habitable housing, I don’t have to worry about slum lords, because their tenants wind up being my tenants and if similar competition becomes an issue, than it’s up to me to either adjust my rents or provide better amenities, but as long as I have that control, I don’t have to worry about outside forces affecting my operations, which brings up another great quote by Sir Isaac Newton after he lost money in the South Sea Bubble, “I can calculate the movement of the stars, but not the madness of men.”The other reasons real estate is a superior investment is because I can get a loan from my banker to help me purchase real estate.

J, you're certainly safe.

It can be risky but if you know who you're lending to and are comfortable with them and the deal makes sense, then it can be fairly safe. 

The more liquidity (cash, stocks, bonds), not 401K as that is discounted, you have the better as that mitigates risk, and since you'll almost certainly be obtaining a recourse loan your guarantee needs to mean something and that is based on the amount of liquid funds you bring to the table.Find a property that is "safe".

I'm originally from the DFW area and relocated to Houston about a year ago with my job in medical device sales.

The way I see it, unless you have some contingencies in your contract that would allow you to back out of the deal safely, you have 1 of 2 options:1.  

I think it's safe to add a clause saying the leases are part of the deal.