For example, if an investor wants to rehab a house and net at least $18,000 after accounting for factors such as holding costs, closing costs, and real estate agent commissions, other models are a viable alternative to the 70% “rule.”Is the 70% Rule a Good Guideline?

In CHS, the county assessor has a two page form that you complete and file with the assessor's office, similar to applying for the legal residence exemption. 

I would visit https://syndicationattorneys.com/ for all the info you'll need on legal.

That being said, I don't believe wholesaling is legal in every state so understanding laws surrounding that before you jump in will be important.There are definitely a lot of bad wholesalers out there!

I have not seen it but recommend that you seek legal advice. 

I'm sure others points about STR legality, etc., all is taken into consideration.

Common expenses include:- Attorney Fees: Legal assistance for reviewing contracts and ensuring compliance can vary based on the complexity of your deal.- Title Insurance: Protects against potential disputes over property ownership.- Appraisal Fees: Necessary to determine the property’s market value.- Closing Costs: This can include various fees related to finalizing the loan, such as recording fees and settlement costs.Inspection Fees: If required, this ensures the property is in good condition before purchase.It’s a good idea to discuss these potential costs with your lender upfront to get a clearer picture of what to expect.

Not only must you know real estate laws and business, but you also need knowledge of the legal intricacies of foreclosures, divorces, probates, etc.

I couldn't find many helpful posts about if it's legal in Texas or not.

You are experiencing what pretty much every flipper is experiencing. and let me start with that the 70% rule is only a guideline, and in a market like Denver, it will rarely happen.