By focusing on high-impact improvements, we maximized the property's value while staying within budget.

Most offer rate buydowns, but how impactful are the buydowns.

I can't say for sure if the BP calculator offers such a calculation as your tax situation impacts how the depreciation will effect your return.By bonus depreciation I'm assuming you're referring to doing a cost segregation, if this is the case you'll definitely want to review your tax return to determine if you can even take advantage of a cost segregation.

Be wary of TX property tax as it is very expensive and can impact cash flow if not factored properly.

Although others have said it won't necessarily impact what other cities do - I personally think the courts decision is better for STR than if the opposing opinion had won. 

These costs can vary significantly by state, so it’s important to compare the financial impact of forming the LLC in either state.3.

However, it may be a better strategy to base your decision on cash flow rather than speculative gains.Purchase Price: $480KAnnual Rent: $2,400 * 12 = $28,800Expenses (@30%): $8,640Net Operating Income (NOI): $20,160Cap Rate: 4.2%Another point to consider: if you're already facing negative cash flow, how will your returns be impacted when it comes time to turn the property or if a costly repair is needed?

There are more coming online but I don't feel they are significant enough portion of our market to impact the single family side of things. 

That's a great point - how to determine if they impacted the studs, and could still be active.

I would recommend taking a  look at some of my previous posts which emphasize the action items you as a rental property owner should be implementing that have a far greater impact on asset protection than merely forming an LLC.