Reach out to a LOCAL property manager that knows the rental market BEFORE you go under contract! 

It's good to know a lot about your tenants.

This also includes any potential benefits for tax losses, no matter where they are sourced to.Given the property is in MO, it would also be subject to income tax reporting in that state, unless there are any exceptions to having a filing requirement there (I don't know MO rules off the top of my head).  

That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

Let me know if you want to meet up and talk!

@Linda PhamAll our midterm rentals are in Colorado as are our clients, so I don't know Houston's market.

I’m looking for insights on which states allow you to list a property on the MLS as soon as you have it under contract—but before actually owning it.I know that some states have strict regulations around wholesaling and marketing equitable interest, while others allow it as long as you disclose your intent.

As for the decision, it's really tough for any of us to say without knowing your goals, your situation and the numbers on this particular house.

I don't know anything about their policyholder experience.However, every homeowners policy I've ever seen, even with a "home sharing" endorsement or rider, requires some owner use of the property. 

P.S. also reach out to experienced real estate agents that cater to buy and hold investors and let them know of your intentions and availability.