Advice? Converting Primary Residence into STR

[James Mitchinson]

Hi All,

I own an updated 4 bedroom, 3 bathroom ranch-style home in the Quail Creek neighborhood of Austin. I'm evaluating a conversion of my home into a short rental property and would love to connect with anyone who has experience in this area. Specifically, I'm exploring:

1. STR permitting - I understand I'd be eligible for a Type 1 STR permit as I plan to keep my house "owner-occupied". Wondering how successful people have been with getting these permits and what the process is like.

2. Taxes - with this model I wouldn't be able to move the property to an LLC (I would lose homestead status which is what is used to make the "owner-occcupied" determination). I'm trying to understand what implications this may have (for example, can I still write-off expenses?)

3. General advice on pricing, revenue, and how to set up a home for the area. I have checked out sites like AirDNA but don't really trust the data. Has anyone found any local consulting services valuable for this type of advice?

Thanks!

James