Your first year cost will include: - state registration - registered agent fee (can fluctuate depending on company you chose and length)  - if you want to pay someone to register your company (shouldn't be too $$$)Going forward you will have to pay to the agent and renewal fees to the state.Registered agent can accept legal documents and notifications from a state office on behalf of an entity.

From my experience, real estate is like any other stock, it will fluctuate. 

Once you have a $1M portfolio, let me know and I will make the connection.The number of units I own fluctuates in number because my team and I are always buying and selling buildings (right now as I write this, it's probably in the vicinity of 700 units for apartment units but that changes every month).

Quote from @Jared Hottle: ...and always remember that prices fluctuate.

I think those are the two numbers that can fluctuate once sale is complete. i'm not sure what section of Houston property is in, but insurance could be high.

You should be looking at occupancy rate, daily average rate and any seasonal fluctuations (plus other metrics important to you) to determine if the numbers work out for you.  

If you are leveraged, is your interest rate fluctuating with inflation or are you locked in for your term -most people are locked.I guess my short answer is, sure, you could come up with some kind of inflation match language, but as a tenant, I would ask what is your justification? 

The Cash flow keeps me afloat and buffers fluctuations.

You can get more granular, down to the city or zip code level on Hometown Locator https://www.hometownlocator.com, which uses Census Bureau stats.Once you identify areas with strong growth within growing MSAs, look for anchors like government or big universities that are never going anywhere and are immune to fluctuations in the economy.You should also look for the strongest school districts.  

Considering that it would likely take you ~10% in transaction fees to sell if your plan to rent for cash flow does not work out, then it is highly likely that you are losing money on that deal.If, on the other hand, you are able to buy under retail market value and force appreciation in the short term, then not only does that help your cash flow by getting into the same property with a smaller investment, but it also insulates you to some degree from short term market fluctuations as well as gives you another viable exit strategy to sell at a profit if you need or choose to.Ideally, if you get a good enough deal, then you should be able to sell at profit (even after transaction fees) at anytime from the day after you close escrow, to the day after you finish rehab, to 10+ years down the line after holding as a rental.