If you’re rents dropped 20% you should still be in the positive long term or you’re gambling.

If you were single, no kids, I would still say not enough, but the gamble might be a little easier to swing. 

That's why I'd just take the $34 gamble. 

I think I could pony up and tough it out in a less desirable area if I had a feeling the neighborhood was “coming up”, but I’m not sure South Dallas is or how long of a game it is, so I think that’s why it feels like gambling.

It’s a gamble.  

We have a pretty good amount of equity in our primary right now and I always said that I don’t wanna mess up like my dad and take money from under the house but I wanted to so we can purchase a second rental property but my wife was against it and I think what you said is strong security does give you peace of mind and I rather not gamble my home.

Let that lawyer twiddle his thumbs deciding if this case is worth gambling his time over. 

Governor Desantis' Executive Order banning evictions for non payment of rent was extended through at least July 1st (and the CARES Act extends if even further if you have Fannie/Freddie financing in place or accept any type of Federal assistance such as Section 8).Even an eviction attorney's hand would be tied right now, and the courts are a gamble. 

It's going to be an adventure for sure!

So yes, $1100 is reasonable for our local area.Good luck on your project, and please share details of your building adventure.