Also does anyone think that the oil downturn will severely hurt the housing market in Houston? 

I have tankless oil at one rental and tenants are ok with it, we don't have space for a tank electric and they are using oil heat anyway. 

So here is how I would set this up: Kitchen: Appliances - $6,000 Cabinets - $10,000Countertop - $70-110/sqftSink - $1,500Faucet - $500Cab pulls - $500 (or $6-10/pull) Install - $2,000Flooring: Floor product (unfinished): (expect to pay 4 - 10 dollars per board foot for anything quality) Floor finishing (sanding, coating etc) roughly $3/Sq ft (as long as you are using a standard coating (polyurethane) if you want to go higher end with an oil or stain expect this to jump to 4-5/sq ft Bathrooms:Demo: $/hour x expected hours Underlayment: Schulter Shower System (approx: 500/shower enclosure) Tile/grout/thinset: 6-10 sq/ftInstall: $3-6 sq/ft Lighting and Electric: (pricing includes installation)   Switches: approx $30/switch  (this assumes a mid range Leviton 3-way dimmer) Outlets: $10 (TR Leviton duplex, GFI where needed and duplex/USB combo in Kitchen Island and a few choice locations) Lighting:Surface mount approx $150/fixtureCan: approx. $250/fixture (assuming old work install by electrician)A little more on why I do it this way: Kitchen: You can figure out exactly how much your kitchen is going to cost before you start.

Oil spill on the premises?

Many investors lost their buildings a few years ago when oil spiked and they couldn't afford it.  

Many of the lots have things that would need to be removed like septic tanks, oil tanks, trailers, house etc.

So you have to do a lot of fishing for sellers.

While I fished and hiked for 7 hours, I thought about deals I'm working on and better ways to find more deals.

Although I have spent most of my career in the Oil and Gas industry both here in America and overseas, I have always had a romance with real estate and have recently decided to jump ALL IN and am looking for like minded individuals interested in working together in the creative investment aspects of the business.

Greetings BP family,I'm currently rehabbing my second rental property in Baltimore, MD and need advice on removing a large oil tank from the basement.