@Joseph Lee from everything I have seen Central AC does not increase rent, but from my experience, I do see it as important to pull the cream of the crop tenants, and I think it will add to your value vs your competition when we see a market shift. 

If you don't like long distance land lording then that kiboshes that.A refi if you reinvest the proceeds can greatly increase your cash on cash ROI. 

This causes my note to increase a few hundred dollars a month but will not have to put money down for closing and instead leave with cash in hand.

Generally, shipping containers are used as a way to expand an existing self storage facility with minimal capital outlay (the containers can be leased) and as a way to increase revenue without improving the property that would generate an increase in property taxes. 

The Heights is where you have a good chance to find one due to relatively consistent construction through the last 50 years on parcels of land that (at least started out) at a decent size, not those subdivided postage stamps in Rice Military. 

I've been back and forth with her on the phone consistently for the last week and half about everything and I know she has no help.

I mean if you happen to have an extra $20,000.00 to play around with it might be worth gaining the experience if it can provide you with a new strategy for forced appreciation or increasing the expected rental income. 

With the location on the edge of an improving and re-developing downtown, does that increase the value of these proposed new homes despite the existing ones?

There are several different neighborhoods with varying rent prices and also varying year-to-year(YTY) rent increases.

Most likely she wants a two year lease to avoid a price increase, and is happy with where its listed at now.