They might change the nature of the school but I highly doubt you will see it vanish (or close it's doors) overnight.

Add some natural wood touches for warmth(basket, simple crate, candle sticks) and some bright green apples in bowl in the kitchen.

But what if things go wrong: market suddenly crashes again like 2008, natural disaster that's not fully covered by insurance, extended eviction and damage, etc. 

Well it's been a little over a year since the Oil Crash of 2014 began, but it seems like the Houston housing market hasn't noticed.Houston Housing Market Stats June 2015

So naturally it's easier to damage just by rubbing up against it.

He is a scientist by nature and so is his companyHis company will be leasing the building (5yr) so all rent is coming from him.His 2nd will have a 4yr balloon so that he will be paid off before the lease runs out.I offered to use a loan servicing company so he is sure that the bank, then his 2nd, and then I, get paid. 

The only heat source for the second floor apartment is a large free standing natural gas furnace that is 14 years old.

However when we had the oil tank scan done, the bank was willing to receive quotes for getting it removed and seem to be handling that.

(Naturally, this excludes appraisal fees, lender points, recording fees, taxes, etc...Another way to phrase, if I'm a cash buyer purchasing a REO, what "Title" expenses do I need to be prepared to pay?

What extra costs will be encountered due to the historic nature of the property?