The bathroom and kitchen are 1960s style and I plan to get some contractors to demo/rehab it to make it more modern.

Interior and Exterior Upgrades; Modern Appliances, Tiling, paint, etc...What was the outcome?

Have you thought of buying a mobile home park and converting it to a more modern version for Tiny Homes.  

It’s in an area where OKC demolished some historical black neighborhoods to make room for the health center and interstate, and it’s finally starting to get momentum to rebuild.The house was built in the last 10 years and looks modern, it's in good shape with a small backyard.

I may do some modern cabins or shipping container houses.

New construction will not be the identical house since everything in the house would be new and the house would be built to modern building codes.

just read a great article in WSJ about Professor Daniel Kahneman who passed away 2 days ago, he and Amos Teversky invented the modern field of behavioral economics.

David OrrTax Modern

Modern kitchens require 8 separate circuits minimum.Using licensed Contractors also I would assume?

It was a groundbreaking study because it was the first to study returns of stock, bonds and residential real-estate since the 1870's across multiple countries. https://www.frbsf.org/wp-content/uploads/wp2017-25.pdfIn the whole period...real-estate had the highest return with stocks a very close second (about 1 percent behind) and bonds lowest.In the modern era, it was essentially the same but with stocks in first place and real estate a very close second (about 1% behind) and bonds lowest.And even in the modern era there were many decade long periods where real estate did better than stocks.Also, there is no way to know what will happen in the future and it's possible that stocks could perform lower for a longer period( or real estate).So, to me it's a no-brainer that I want the diversification of having *both* in my portfolio (and would never limit myself to just one of the other).