A good freind of mine set up an STR in a similarly lenient area and found that they could focus much more on guest experience rather than the administrative hassle.

Educators, education administrators and politicians should be ashamed.3.

I have yet to see one of these when underwriting to today's real costs, but I think it'll happen eventually. 

I’m not from the US and currently live in Europe most of the time.I’ve found some apartments that could work well for my needs—I plan to rent them out on Airbnb and reserve a few nights for myself when I travel there for work.My question is: apart from the purchase price (I’ve seen listings on Zillow averaging around $150k in areas like downtown Dallas, Old East, and Plano), what other costs should I expect—both during the acquisition and in monthly payments?

I was wondering if there would be any advantage creating a LLC or business to pay for the renovation costs.

Also, you didnt mention any financing costs, was this built with cash or do you roll that into your cost of construction?

Typlcally, a lender is going to lend 75% - 90% of the Cost of the project (property price plus rehab cost (scope of work)) or 70% - 75% of the ARV (As Repaired (as completed) Value).

That's where you should start, because I am afraid you are way off with your cost projections.

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

Since you are in the country, you will want to contact the county administrator.