The buyer is seeking a bargain or a to make a good deal  The seller forces a potential buyer to agree with the sellers vision and the buyer was turned off by the vision of the seller to have to pay for the sellers vision and does not want to pay for the sellers vision.

Depending on if I choose to rent or flip the house, the rehab could go up or down, but it is in an established & quiet neighborhood with great access to shopping, Costco, restaurants, the Air Force base.

Right now I am forced to take the standard deduction.

Existing single family portfolios are being sold to residential buyers and forcing tenants into a shrinking pool for rental housing.  

Baltimore ( a Northern City) has a long history of using Eminent Domain and Code Enforcement actions to force absentee landlords to fix up their property, or have them taken away and resold to investors who will do something.  

The risk is if Houston tanks then I would be forced to hang on until the market comes back.

Forcing appreciation through those changes is the key to a really solid BRRRR deal.  

You can take your excess capital and invest it passively in real estate or in other asset classes and not loose all the benefits of leverage in your real estate portfolio.There are ways to invest in real estate where you can mitigate risk, reduce volatility, carry leverage, get leveraged tax benefits, get some leveraged appreciation benefits, have cash flow, force appreciation, have high IRRs and control your financial future without sacrificing some of these benefits for the others.  

@Douglas KrofcheckIf you have four separate units and wanted to install a central vacuum in each, it is possible each would need to be plumbed separately {for fire code reasons} - either back to a common mechanical room or within each unit - requiring a separate canister/motor to be installed for each.While a central vacuum would be a nice perk, I doubt it would be cost effective - it would likely be cheaper to finish all the units with hard flooring (no carpets) and buy a $50 Bissell Power Force bagless vacuum for each unit.  

The will force me to be more general and make certain assumptions.