@David Begley , I think (just my two cents) that Texas has embraced the reality that lots of folks who are willing to work will not or may not be able to get licenses, and so for economic purposes (read as "building economy and revenue") has decided to keep it deregulated.

I joined 3wks ago and was immediately embraced by the community.

I'm a newbie just like you and have embraced the idea of house hacking my first deal. 

Over the last couple of years, many DSCR lenders have embraced and adapted to financing short-term rentals, including using data-driven tools like AirDNA to qualify rents on short-term rental properties, but there is yet to be a similar tool for medium-term rentals.

You can either take it and embrace it, or reject it.

But Austin still has the small town mentality with leadership that panders to the small town mentality of embracing growth but not building the infrastructure for it.

Point being, everyone has to start somewhere and the same could be said for REI...who is to say one of the next big names, or future investing gurus is just starting out on the forums making "silly" comments without using the search button and getting bashed for it, as an example...that's why places like BP exist to embrace the newbies and help show them the way.

Do your due diligence, surround yourself with supportive and knowledgeable people and embrace the challenge. 

I love that you and your wife have embraced responsibility. 

Hang on tight and enjoy the ride...expectations and reality often does not meet.Be open minded, be ready to be impressed and at the sametime be open to receive and embrace any given situation from potential guests.