In addition I will not raise the rent this year.Do you think this is a good plan? 

Surplus would go to the HOA and if there was still additional funds it would go back to the owner/borrower. 

I have good credit and a stable income, but not a lot of savings.

In addition, the Dallas market is about to decline significantly.

Look at your expenses- if you have a car payment, credit card payment, etc, get rid of those.

On top of that, there's a bill working it's way through the state to add an additional sales tax on real estate.

That being said, there a are a lot of great programs out there to finance investment property if you have decent credit and enough down, you should be able to finance a property that will cash-flow reasonably well. 

With lower credit score myself because I did not do credit much it is hard for a bank to see if they want to take me on.

I tried to flip homes and invest into real estate with out any money but I obviously had zero money or credit; i was a broke college kid haha. 

Having separate checking accounts (and credit cards) specifically for the rental properties might help the most as far as expense organization (and tax) accountability.