Airbnb and short-term rentals are regulated city by city, county by county.So people unfamiliar with Colorado probably hear the drip drip of "Denver banned STRs," and "Colorado Springs allowed regulated Airbnb," etc. etc.

I had to replace 2 steps this spring due to some minor rot.

You may consider paying a professional to get a tenant fast because I fear that if a tenant is not in by Nov, that you will have more difficulty getting a tenant before spring.  

They will get a $100,000 liability to cover fires, water damage, accidents, and more.As @Greg Scott stated, you should require your tenant to add you as "additional insured" on their policy.

What happens when the water service line has to be replaced?

I was looking more into North Houston and saw a few properties in Spring, TX.

If you can get a house with a killer view I think that is what sells the most, second being on water. 

Our waste water goes to Mexico, maybe that’s what they meant?

I’ll give the water company a call on Tuesday.

Water submetering is more difficult with smaller properties; especially older ones.