Smoke and mirrors.I loved the way you started off by saying, "let's assume that...".This "analysis", profitability is based on future events you have no control over.First, the $945 at year 15 isn't all profit. 

Since I got out of the military, I had various positions, to include selling security systems with ADT. 

In these types of situations, I find it far safer for me as the buyer to take control of the property by doing this a subject-to type of transaction (we get title and record with a title company). 

That allows you to acquire a great asset for almost nothing, and when we do that we are sort of working the system.

While I wouldn’t say this one spiraled out of control it did have scope creep at a much larger amount than I would have liked.Well there you have it.

I used Yankee Pest Control and found them very helpful, responsive, and priced reasonably. 

How's the neighborhood and local school system? 

We just went live w/ Booking.com, FlipKey, HomeAway and VRBO so i'd like to have a better system in place. 

We resided the house, replaced the HVAC system, renovated the entire kitchen and bathroom, refinished the hardwood floors, poured a new concrete porch in front, repainted the house inside and out and redid the landscaping.

Or better yet, hire an experienced Houston Realtor.Not sure if you’re new to Texas but make sure you understand the property tax system and that taxes are generally higher than many other US areas.