Of course, sometimes it's difficult to sell a house this way if you have alot of equity since the buyer will have to come to the closing table with that amount of money before assuming the loan.   

There is no money in that business. 

I spend time there.

I put down all my money on this deal.

I am wanting to sell all my stocks and just take the cash since I don't want to drain the majority of my savings/checking purchasing real estate and have most of my money in stocks.

Certainly, if a permit costs $250 in your area and your contractor is spending 5-10 hours dealing with having to pull it, then $500 could be the right amount. 

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Make and keep a spreadsheet to track the money --- upgrades should be well thought out and always add value.

Or is there a way to replace an AC without spending another 5-10k? 

But If you looking for a long term SFR rental (3/2/2) you will have to spend anywhere from +$350K to find a move in ready rental in Plano.