In Dallas we easily see $2K rents in tonier locations where Class A likes to go vs $1K rents for value added in decent areas of town.  

The court also may order the landlord to abate (stop or eliminate) a nuisance and to repair any substandard condition which significantly affects the health and safety of the tenant.121 For example, a court could order a landlord to repair a leaky roof, and could retain jurisdiction over the case until the roof is fixed.In order for a tenant to win such a lawsuit against the landlord, all of the following conditions must be met:122• The rental unit must have serious habitability defects — that is, it must substantially lack any of the minimum requirements for habitability listed in the eight categories on page 24.• A housing inspector must inspect the premises, and must notify the landlord or the landlord’s agent, in writing, of the landlord’s obligation to repair the substandard conditions.• The substandard conditions must continue to exist for more than 60 days after the housing inspector issued the written notice, and the landlord must not have “good cause” for failing to make the repairs.• The substandard conditions were not caused by the tenant or the tenant’s family, guests, or pets.In addition to recovering money damages, the party who wins the lawsuit is entitled to recover his or her costs of bringing the suit (for example, court filing fees), plus reasonable attorney’s fees as awarded by the court.123Before filing this kind of lawsuit, the tenant should take all of these basic steps:• The tenant should notify the landlord in writing about the conditions that require repair.

@Chad Duval As Thomas S. said, your contracts are of limited term and therefore can be changed very easily (i.e. basically every month) as long as you notify the tenant of the change as per timeframe described in the lease (and/or local laws, whichever applies).As regards your statement of "making money" on those pets:  while I get the idea, you probably won't make any due to the additional wear and tear, if not even damages caused by the animals (as a broad and general statement; I personally know no cat that would ever pee on the carpet unless their owners are reckless idiots and don't properly provide for them).

You can't easily get a mortgage for a home in an LLC or other entity without putting 20% down, so buying as many as you can in your name will allow you to put less down if you occupy the property.

You should be able to easily refinance for 75% LTV or 80% LTV of appraised value and still get good terms.  

In a different part of town, the owner may accept that price, but once you own the property, you may find the area is undesirable and it is difficult for you to easily find high quality tenants.

I think you should be able to find a deal where your rental income can cover your mortgage payments as well as utilities easily.

The 2 bd unit which is renting for $1.4k could easily be rented for $2.6k (I lived in a 2 bd 1 ba unit down the street last year and paid $2.4k, when I left he rented it for $2.6k.

I use multiple landscapers and I am able to manage my homes easily this way.  

Offered me this deal:House is located in nicer KCMO suburbs and easily comps at 112-120kHouse in need of about 23k in updates/remodel (they would perform)Has current renter that has been there 15-17 years but would probably need to leave for rehab (lease is up early 2017)Offering me value purchase price of 83500 (over 10k less than comps minus repair cost)I would get portfolio loan with my local bank there (already approved) at 30% down ($25050)Would open a HELOC to perform the rehab (max $23k)Once complete, get a cash-out refi (with same bank), at 80% LTV of (hopefully) new value of 118k which would cash me out 24k -- enough to pay off the HELOCWould put back on the market at 120k, and if sold would net 25k+ on the deal, otherwise could continue with prior renter or find new renter (pretty easy in this area)Obviously quite a few things would have to go right including the reappraisal, but the comps look pretty easy to obtain that new value.