Thanks for the advice I do believe a portfolio lender will be much more beneficial for me in this situation.

So you're probably in a long-term hold situation and hopefully decent cash-flow.Hope it helps!

It's part of a trio of cities Hurst-Euless-Bedford (aka...HEB) that are situated along Hwy 183, and are separated from Irving by DFW Airport. 

I know that rental properties have their flaws (tenants/repairs/etc), but assuming that doesn't really stress me out, what else am I not considering?

Just curious to see how some of you would handle this property if you had the opportunity and in my situation. 

Not a pleasant situation to be in.  

In your situation having a paid off property is only compounding the problems on what is actually a very poor choice for a investment income property.At a value of 350K and realistically assigning a opportunity value of 10% to that equity it is costing you $2900/month in lost income on your cash.

Your applicant is being extremely deceptive in regards to her situation.

We were both bouncing ideas back and forth on ways to make my situation work.So the ARV absolutely got their attention. 

For our specific situation, we are currently kicking around two possible options.1- bring on an experienced general contractor to manage a second property in tandem to my husbands property.