All generalities of course because it depends on your situation. 

I think this is an issue that really depends on the kind of relationship you have with your tenant and if you've had issues with them in the past with favors that they have asked.

I need paint, flooring, and maybe a roof (depending on if the insurance company will let it fly).

Depends on your future goals .

Whether DFW is a good market for you or not probably depends how much sweat equity you're willing to put in.

Your CapEx may need to be more depending on the answer.3. 

Depends on what you call a "deal".

My guess is the true power cash has will vary depending on markets, seller motivations, and other variables.

May have to pay down the loan, depends on the values... but this happens all the time.

It equals roughly  438 a month per unit.  438*8*12=42,000....it could be all lot renters or it could and probably just rent...it could be decent deal depends on the utilities set up, but what is upside, going to be a lot more time/money due to owning all the homes, and what is your exit strartegy...normally this small of a deal is better off being all rentals due to the smaller amount of revenue that it produces...it just depends on how close you live.best of luck