Keep posting on BP and network with as many people as you can in your area and you'll learn a ton. 

I'd probably lean more towards Richardson than Carrollton based on what the people I know say about schools. 

As other people have mentioned, you have already done more than a lot of landlords would do to support the tenant, not in a bad way!

Would love to hear from people who have invested in the area.

It might help people get better information.

Careful - many of these are marketing pitches for people trying to raise funds.

THE MOST IMPORTANT THING I LEARNED ABOUT SALES IN 45 YEARS IN REAL ESTATEI, like most people, thought exceptional success in a sales field was due to a unique ability of an individual to somehow “connect”, “convince”, or “persuade” people to purchase the product or service the salesperson was selling.

While you can potentially rent-by-room, this is a really tough configuration to do that with as 3 unrelated people seldom want to share a bathroom and if they do, they expect a pretty steep discount for it.When you mentioned rental arbitrage do you mean that you're open to someone renting it from you for the purpose of using it for arbitrage? 

I am sure you can find some people here on BP that could help you.

Essentially, people could donate money and get tax deductions and then that money could be pooled to buy property, fix it, rent it and pay a manager.I’m assuming it would be similar to a self invested Ira.