However, the appraisal district has it's market value and appraised value at $246k. 

If your district is desirable say Point breeze in the titled. 

Try to be in the path of progress, in the better school districts, closer to fun activities (maybe your downtown).

Now, once you got that concept,  the next question is: how can you grow your portfolio the fastest way possible that has low risk, good cash flow and is in good areas (school districts) to have some decent potential for appreciation? 

After awkward silence I step into the discussion and explain that they have kids in the school district and will probably also stay for a while.

Plus, the school district was one of the best in the country, which definitely made it more enticing.The builder finally lowered the price again in the process of all this, and dropped it to $199K.

Unless your property is in the high-rent district, you probably won't get any more rent for it after you remove the popcorn.

West End Historic District, to be exact.

The particualr area I'm in is one of the best school districts in the area so I'd like to be ready for April/May 2012 with a 3BR/2 property to get the ball rolling.Another option is MFH (duplex or quad) in high density areas around Houston.My current plan is to start a side business doing what I know (IT) after-hours/weekends to raise some $.

Has anyone owned in a historical district?