I would think and assess if it actually needs a new kitchen (if there are cabinets there already just old, can you paint them and put new knobs on)?

.), so some numbers overlap, but there are some excellent data points to consider.

Consequently, when you get a DPA loan sponsored by the state, you look for expertise, care, and quality from the lender because there is no significant difference in price.

This is just another reason I never use realtors There are definitely many awful agents out there, but there are still some good ones.

Almost every problem you can think of happened.....So there I was, a seasoned real estate amateur. 

It appears that there is no obvious process for claiming this fence.

@Yusef PresleyI would avoid paying contractors hourly and make sure there is a construction draw schedule in the contract that clearly outlines when funds will be dispersed to the contractor throughout the project instead of one lump sum payment.

There is a mortgage attached to this property from 2004 that is substantially less than the appraised value. 

There are a lot of loan officers sometimes new to the business that send out what is known as a "teaser rate" More than likely you are also paying 1.50 to 1.75% points for that rate and you should "Never" pay points just use a real FDIC Bank instead of a "Lender".

I'd suggest reaching out to a property manager in the Houston area experienced in ren-by-the-room to see where this strategy works best & then work from there.