I just refinanced an investors STR, he had to supply 12 moths trailing history of the STR income. 

Hey Daniel,Currently operating in a similar fashion in PBC.

Really making sure that you stay on top of that person (contractor, you, architect) on the ball by following up with the city to get that permits done in a timely fashion. 

If the city takes away the supply then prices will go higher as the demand will still be there in the short run.

Supply inching up.

@Aaron Dominy   Building supply chains have eased considerably in the past 2 months, thus the time-frame to build in Galveston has shortened.

Note, of course, that this opinion is coming from a place of the very limited information you supplied in your original post but on the face of it living for $1500/mo in a decent neighborhood seems decent to me.That said, I would encourage you to look at this more long term.

When it comes to rehabs, I’ve seen in the forums a good rough estimate is $20-$100/sqft, dependent supply the severity of the rehab.

This increase in dollar volume underscores the robust demand and high value of Miami real estate.List Price Success: Sellers received 97% of their original list prices on average, maintaining a steady rate from last year.Speed of Sales: Homes moved faster, with a median time to contract of just 28 days (a 6.7% reduction) and a median time to sales of 70 days (a 1.4% decrease).Inventory Levels: Active inventory rose by 27.3% to 3,864 homes, and the months’ supply of inventory increased by 33.3% to 4.4 months.

With a 4.4-month supply of inventory (up 41.9%), the market is becoming more balanced, offering a healthier dynamic for both buyers and sellers.