Also as the tenants pay down your mortgage you can use that equity for other real estate transactions.While hiring a PM is very daunting and we tend to get a bad reputation it is possible to have a positive experience with a PM. 

They have misrepresented this property and it's condition so badly and I'm being told there is nothing they can do about it the owner doesn't want to put any money into fixing it.

There is no tenant payback on windows unless this is a higher end rentalor you're paying for heat and the windows are in bad shape. 

Is it bad idea to invest in properties in Houston due to hurricanes and the high chance of flooding?

My strategy is I buy where people want to live, in a good or bad economy I don’t want to struggle finding tenants.Reading your post it sounds like it won’t be easy finding quality tenants..

Jeez I tell you, yes she is now out my life but I have a bad feeling she will dispute the amount though feel I am covered as only charged $100 for cleaning and repair for excessive .5" holes everywhere, $25 for supplies, $80 for the smoke detector she took down and monoxide detecter she took with her plus $200 carpet cleaning and $325 to repair the holes.

I found a terrific building, but once I started doing research I realized it was in a very high crime area (murders, drug dealers, etc). 5 blocks away from the building was fine, but the exact location of the building was a really bad area.I would definitely visit any property you're thinking of purchasing, as well as talk to the local police about the area you're considering.Good luck!

Figure 10% higher tax (cap gains vs ordinary) and SE tax isn't too bad If someone is over the Social Security limit however still sucks paying it. 

It’s too bad your renters didn’t tell you when they received a certified letter saying the Hoa was trying to get ahold of you about a violation which I assume they would have as all fine notices I’ve received have come certified mail.

The door that is in there is an antique that was hand refinished with the window reglazed.When I asked if he had met them personally and thought they would be good tenants, he said he only met them at the lease signing and didn't think they were off, but no one in their right mind is going to show up with their shirts off and looking bad to a lease signing.