I'm not sure the electric bill would be higher, as central heat & air is usually more energy consumptive than a window unit. 

You can purchase with a low down payment for example 5% with an FHA loan.

You provided a good example whereas you have a minimum score standard regardless (500) and then you also look at a combination of a low score vs. bad debt. 

I quoted Cardinal Kitchens and then Cardinal Kitchens via Lowe's and the price through Lowe's was actually a little lower.

Buy when market is high, buy when market is low.

These days with at least one Home Depot and Lowe's in every metro area, there are plenty of weekend warrior type home improvement DIY'ers.

I'm probably a little higher on the equity side than most, but I figure if I have good equity, my debt service is probably relatively low compared to rental rates and will also help ride out the soft patches. 

I have raised rents around 3% annually, which actually may be a little low for my area!

I think you are saying that the listing price of a house that you want is 150k, and the seller will go as low as 140k and you are trying to find out if this is a good deal.

In the past year, we started a renovation to add the second bathroom but ran out of funds (this is an attic conversion and our contractor was way low in his estimate).