As an aside, I will say from personal experience: I am very, very turned off when pitched by folks that mention anything about their personal history of overcoming setbacks.

The 1-2 year rehab and flip strategy seems more risky and needs a lot more analysis while a 7-10 year hold in great market could overcome the short term blips.

The only hang-up I saw was vetting a good set of contractors is harder than most states, easily overcome but an extra step to be sure.An interesting thing to consider too, I wanted to watch my little brother graduate from basic training in Lackland AFB and also check out the RE game down there. 

---------------------------The house, as you say, has been relying on HVAC for overcoming no insulation and vapor intrusion (although, for the vapor part of the equation, the HVAC may not be contributing much to dry-out depending on wall covering or paint type.) 

@Tj Hines Often times any deficits in experience and be overcome with cash.  

Not a fear, just an obstacle to overcome. =)

It will be tough to overcome those expectations. 

It’s a tough vinyl with rubber backing to overcome water issues3.

I don't know the specifics of your situation, but it sounds as if you have had some adversity to overcome in terms of your own health.  

Those are the areas that are most likely to overcome any dip in the market.