Low income residents just don't take care of things.

How can they not notice, unless they just don't care.

For example, they'll never care as much about your property as you do. 

Personally, I will drive and walk on different days and at different times to get a really good understanding of an area. 

also. in a market like Austin Texas where its a really strong market. does it have much of an effect?

I think this will be a great learning experience as opposed to paying a property manager to take care of a house near your home town.Best of luck!

Regardless, usually if you have a tenant that takes care of your place and that is clean, you will not have a mold issue.

I'm currently looking into the pros of an LLC because I'm going into Real Estate with two other people financially.

TO MANAGE THE UNITS BY TAKING CARE OF TENANT PROBLEMS, REPAIRS AND TO PICK UP RENTS HE IS IN HIS 80'S NOW AND SAYS IT IS TOO MUCH OF A HASSLE FOR HIM NOW BUT NEEDS THE INCOME 

While I believe the laws are federal, and therefore the same everywhere, a local professional with extensive experience in the area will be able to tell you based on the type, age and location of the property what your potential risk would be and the minimums required by law to have it taken care of, if necessary.