You will pay ordinary taxes and also self-employment taxes.

In the much more common exemption from registration, was it an intrastate exemption, a Reg D filing, or did the offering rely on the general exemption for private placements?  

Theres more than a couple strong employers in the area.

Giving them written notice is best practice.I would consider employing an attorney with a lot of real estate experience.

Is this common problem in older homes in Texas? 

Even if they do, they may not hear your message enough to fight against the message of "low—and no-money-down" most commonly shared in the forums.

Common expenses would be utility mandated SCADA upgrades for system isolation, metering packages, engineering & testing, etc.

It is very common for tenants to be nasty when the air conditioning goes out.

(Btw, I found this to be a very common first time landlord mistake).  

Lastly, it's common for the Buyer's Broker agreement to have a clause that stipulates the client will owe a commission for property which is covered by your Buyer's Broker agreement if you agree to a purchase agreement within 60 or 90 days of the expiration of the agreement.