Lower end tenants tend to damage apartments more leading to longer and more costly turnovers thus leading to a longer vacancy period.Since you are out of state your investment success or failure will hinge a lot on who is managing it for you.

I got a $900 Bosch dishwasher with a broken hinge for $236 & the hinges were $13 a piece on-line.HD will rarely budge as much but they'll sit on returns for months before just dumping them. 

Let me know if you need help with figures on the refinance, but I would guess Texas banks and/or conventional financing may be your best bets there.  

If you don't qualify conventional for that, then seller financing, partnering, or targeting lower prop values may be your best bet. 

A water leak could lead to lead to significant damage and I'd bet your tenant doesn't know a good plumber or person who can repair the damage. 

@Dustin Lauer, you bet! 

They are seeing what they can get away with and I will bet you $100 they will not move out on time unless you move forward.

cant remember their name but I bet you can google them.. in those days it was 600 to 700 bucks problem solved.. you have a tenant at sufferance.. 

Other than basic protections for the property, your best bet is to document everything, add up the costs and send them a bill when they leave.

Growth during a recession is not what I want to bet on.