You've collected a nice savings for your self, use that wisely! 

Did nothing to it, collected rent for that entire time and sold it for 40k.

The big issues are:Lender reserves P&I, T&I this is a new requirement from lenders post covidStay on evictions Recent rent collections Your yr1 projections I would not assume any income growth in yr1.

If you aren't collecting rent, then the PM should not be collecting full fees.

Purchase price: $43,500 Cash invested: $20,000 Sale price: $165,000 I rented this house for 9 years and collected over $80,000 in rent.

Purchase price: $43,500 Cash invested: $20,000 Sale price: $165,000 I rented this house for 9 years and collected over $80,000 in rent.

The owner has not collected rent, paid taxes or made mortgage payments in many years on these properties. 

I would send them to collections (all people on the lease - not sure on the process in Texas) and be done with it.

Combined their gross income is 3.6x rent. 1 great credit score (mid-lower 700), 1 mid (Mid 600 no credit history), 1 bad credit score (mid 500, balances owing on closed accts but no collections no open accounts.)

After collecting $2,100 in rent, this would allow me to live there for $700 a month.