The most casual of observers can check zillow and see that the medium home price in Honolulu in July of 2006 was 566k, and the market was down from there until it came back to that price in july of 2013.  

Still, I'm trying to observe what the market is doing.  

Martin Your next steps sound exciting.I always enjoy it when we are finding a new advantage to pursue.Even when the new advantage is tiny or immaterial it is fun and smile worthy.The models I observed in Spain seemed to benefit greatly from multiple listings in a single building, as you are planning.I've been impressed by what will rent. 

. :) So just take it as an observation from a noobie.

I would not be surprised if it continues to climb for a couple more years then settled down to 2013/2014 levels.The rental market has always been very stable here, even through the housing crisis so I feel that if I buy an investment property now, even if the price is inflated, the rental income will be a good hedge against the coming correction.Now I'm certainly no RE pro, far from it, so these are just my observations based on living here for 30+ years, so take it with a grain of salt.

Just an observation and my opinion as an outsider, since I have no Texas property nor any ambitions to own in TX (or any other state besides NC, SC) regardless of their economy.

I will observe and absorb everything he does and then learn.

I forgot to mention, apart of that proposed $100k rehab budget is a 1.5 level roof top deck.

Just wanted to share my observations with my BP family with regard to my experience with a Real Estate Guru Organization.I initially started out by attending a free 2-hour seminar, where they gave you very general information about real estate investing and stressing more on the audience's desire to become "rich" or be able to quit their job.  

Perhaps my favorite quite from "Rich Dad, Poor Dad," is just a throwaway observation that Kiyosaki makes: "Most people, given more money, can only get into more debt."