I think it's pretty commonly held knowledge, at least by those of us living in the Houston area, that our city has grown exponentially over recent decades.Well, CultureMap posted a pretty cool .gif the other day showing by just how much the city and surrounding areas have expanded since the 1940's, with the most impressive growth spurts coming since the 1970's.You can view the brief article and .gif here: http://houston.culturemap.com/news/city-life/05-16-16-see-how-dramatically-houston-has-grown-since-the-1970s/

Taking incremental steps, with expandability and upside (which is exactly what you're looking at doing) is a great way to build a portfolio.

Hey Chris, Thanks for the info, Thinking of expanding in other markets as well.

Your wife may become more open to expanding your investing if you can show her a series of real returns.

A huge potential problem that can easily be avoided

There are Lenders who will fund up to 100% of the Rehab amount (depending on the as-is value of the property), but for 100% financing of the entire project, I'm not too sure if that will be an easily achievable option. 

Not to answer for James, but I think that's very reasonable - the life of a good furnace can easily be 25-30 years or more (I'm at 24 on my own furnace at home), and adding the central air will help him attract tenants more easily.

It is unreasonable primarily because you can easily do it on your own.  

Now I am able to say that I have 20 units that I own and manage currently and looking to expand my market.

I am definitkey a buy and hold guy Although I'm thinking about expanding the tool belt so to speak!