The economics of the industry in its current form doesn't support the salaries needed for quality underwriting in the long term.  

How long has he been in business, what is the economic risk of his business.

I will keep looking for another contractor.If anyone has a good, economical painter in the DFW area that they don't mind sharing, please PM me.  

You probably already have a sense of your region and places that might be affordable but not to bad of economically.  

@Brian Eastman The black art of Economics dictates that one always ask the question "Compared to what?"

Yes I know that can change but for a long time there has been good steady economic growth.Understanding you want to leverage but are unable due to low equity so you are thinking why not sell.Ask this question, by selling do you get out what you need to only buy this one property and if so will you profit more than $625 per month?

Also this part is really just my opinion (and I'm no economics professor lol) but I personally think we won't see much for rate increases.  

Where can I also get an analysis of where property values may be headed or just the real estate economic outlook for certain states counties or zip codes?

The chamber of commerce, economic development, and city officials are going to promote the town and may not give you the whole story.

The economic and actual vacancy look a little light compared to what I think you should underwrite at.