Or items that enhance curb appeal?  

@Scheryl McDavid  If you are really serious about buying a place and not just doing an exercise, you need way more information.

Currently I am looking for a good real estate focussed financial advisor to get started with.When I am not working I am usually cycling or other exercise, enjoying home theater, spending time with my girl.  

I have never tried to exercise that clause so I'm not certain it would hold up but I figure it's worth putting in there anyways.

I saw similar posts but none were specific about the procedure of exercising your option to exit the contract. 

Do not worry about the DOS (due on sales clause), no lender is going to exercise that right.

If your concern is some bank exercising the due on sale clause, then yes it matters....no mortgage, no due on sale clause.  

I do not see premium enhancements but rather discount applications.So in the example of the $100k home.

On a more positive note if you exercise patients more than likely you I'll be able to find a deal in Houston that you could afford.

If you hold as rental or investment property for at least one year and then decide that you want to sell and structure a 1031 Exchange into other properties, you could take advantage of the 1031 Exchange at that point and probably exchange into multiple properties to really enhance your cash flow.You will actually pay ordinary income tax rates and not capital gain tax rates if you rehab and flip, but with a $10K or less gain, I'm not sure that I would even hassle with a 1031 Exchange.