I have rentals in NH with all three:  oil, natural gas, and propane. 

Any oil producing area will certainly notice the difference.

If you are going to reuse the rail, I would burn off all the old paint and re-sand it real good before you put it back on, then a new oil based primer and 2 finish coats.

Replacing the old windows with New triple pane windows, converting the oil heat system to electric. adding some mini-splits with heat/Ac capability.

I also 100% agree with you about the oil, recovery/bounce back timeline.

Landon, you've brought some appreciable Whitt to this post.While OKC does epitomize cheap in every way (from home values in some pockets of town to the mindset of every. single. person walking around without an Oil job), I agree with you that it's a pretty solid place to invest.It's entertaining to me how number 4 seems to be a causal factor in #1,2, 5, and possibly #10, too.#1 is a causal factor in #7 and #9.

Yes, there are plentiful deals.....and yes....even Detroit might one day be a goldmine for someone who buys the "right" $1,000 home and oil is discovered in the backyard.  

With extended oil price wars your domestic buyers will lose buying power as CAD gets devalued.

Been doing this since the oil bust of the early 1980's.  

For example, I met people that were contractors for oil in Alaska.