My only reply here is to say to simply focus on the business objectives.

Do you want to own your own real estate like an apartment or retail center and create a side business?

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.

This is really going to depend on the state you are looking to do business in.

In all seriousness, if this is the start of a budding STR business for you, your parents should understand. 

From what I’ve seen in Bloomberg, it also doesn’t hurt to keep tabs on any shifts in local buying trends.One more thing I’d consider is the exit strategy.

Focus on networking with local investors, learning market trends in your new area, and deciding on a strategy that fits your goals.Good luck!

I only know a few local realtors/ property managers I’m going to meet with them this week to ask more questions. 

This will help attract more business to the state, keep it coming! 

Thus creating a monopoly that I don't know how to get out of.I've worked years in this industry from the PM-end and never seen anyone try to bill a percentage off the security deposit and, though a little digging is showing me it CAN be done, it seems like bad business.