The paint is chipped so I'm assuming there's lead paint and there will likely be asbestos and lead pipes for plumbing.

Now I just have to chip away at it everyday!

You're looking for finishes that hold up to wet glasses and don't chip, upholstery fabrics that don't stain, and furniture that doesn't sag or break.

I mean, hey, your such the awesomest and EVERYBODY loves CA #1, so no doubt every CA resident will be ecstatic to help chip-in for it all. 

Chipping paint on exterior is going to be be your downfall.

I would definitely take care of the cracked/chipping ceilings.

I'm too old to start in another more friendly state, so I'm cashing in my chips, one by one.

I dont believe there is any kind of HOA or ruling organization for these group of houses but it has me concerned that if one day they all decide they want to repave the driveway or add lighting or something along those lines, they would try and make everyone chip in and pay their fair share. 

Sherman, and Denison are growing a lot due to the Texas Instrument chip plant being built there.

Those extra interest payments "chip away" at your savings (over $38,000 in interest only payments) and ALSO should be counted as "extra payment towards principal" in the counter/control example.You are in actuality transferring debt from the fixed, low interest mortgage, into a higher interest HELOC.