If you're lucky enough to have a local builder with experience building passive houses, you may be able to build a house which requires almost zero supplementary heating and cooling, and it will have lower water bills as well.

I am surprised they are running out of hot water fast, the smaller tanks should heat the water faster than the larger 50 gallon tanks, maybe look into small tank heaters with more heating coils to heat the water even faster. take a look at this one, available from HD too https://www.rheem.com/product/marathon-30-gallon-e...that one may deliver enough hot water for your tenants.

You will always have a mortgage payment eventually, pay interest, insurance, water/sewer, save for your reserves such as vacancies, cap ex, and repairs, and of course, can't forget property management if you are not planning to manage them yourself.

I used to be like that and I got involved in a flip 4 years ago that didn't go the way it was "supposed" to go and was financially damaging.

A couple things to consider:The infrastructure was designed to support a specific development (number of parcels, certain square footage and/or water consumption). 

Kids are unbelievably disorganized and trying to get them to do everything they need to do to have cable, water, electricity and pay YOU on time is asking a lot!

me personally I would never buy a park on private sewer and water.. again personally I would not do this. too much risk.

You have many options.I don't know what rental prices are in Houston, but I have very many friends and previous buyers who have paid $1,200 a month for 800sqft-900sqft units (with water being the only utility paid for).I recommend West Gate area.

And its not really the snow that causes problems its the water from the snow melting and ice from that snow melt then re-freezing that is the biggest issue. 

Also note, the metering of water/sewer/etc. costs $15,000 per unit.Thanks in advance for your thoughts.Mike