Airbnb Rental Advice

[Jordan McDonald]

Hi everyone!

My parents have an unfinished room above their garage that is being used as storage right now,  and it is an absolute complete waste of space. I'm trying to convince my dad to let me and my brother pitch in to finish it into a 2 bedroom apartment and start renting out via Airbnb. We live in a suburb north of Houston and I've done a bit of research on nightly rates. I think $110 is reasonable, even a little conservative because there are some pretty nice amenities they will have access to (outdoor fire pit, basketball goal, swimming pool, hot tub). Are there any other aspects I should consider in my quick analysis below? Like any occupancy tax, additional expenses, etc.?