I ran some comps and the price is in the ballpark The house needs some TLC (paint, landscaping, carpet) there are no major problems that I can see. 

But because Houston has no zoning laws, just 6-8 miles south of that you have very desirable housing of the Garden Oaks and Heights neighborhoods. 

, interior paint, appliances, landscape, chimney sweep and roof, with some brick work.

I paid cash from my savings and have budgeted about $25,000 for repairs (new kitchen and bathrooms, new Hvac, and paint and landscaping).

Any additional debt will increase the amount in payments to service that debt.Are you asking about a 3% rebate at closing for landscape allowances or closing costs?  

This project is essentially a complete gut that will include addition of roughly 700 SQF, new roof, siding, landscaping, privacy fence, hardwood flooring installation, interior re-design into an open concept floor plan, upgraded kitchen with granite counters, new cabinets, stainless steel appliances, etc.

New roof, HVAC, all hard flooring surfaces (no carpet), upgraded kitchen and bathrooms, landscaping and more!

I know a lot of others that played the other side of the highway in garden oaks and did well.

Reality on the ground is exact opposite due to investors not properly accounting for expenses such as maintenance, capex, legal, property management, pest control, landscaping, travel, etc etc.

I left out the important details about how much work the house needs: new windows, roof, no AC, not even a fume hood in the kitchen, sometimes mold issues in the basement, broken windows, landscaping. we basically self manage which is at times frustrating.