If it was built as a triplex or was legally converted and recorded and rental license is inactive it can be pretty simple to get an active license on the property - especially because it is RM-1 zoning. 

Austin experienced the largest drop in active listings, with a 13.3 percent loss to 8,307 listings.

I don't think I can ever be inactive entirely-- I tried that and failed.

With many buyers tired of waiting on the sidelines for interest rates to drop, we've seen an uptick in activity in the first couple of months of 2024.Below is a recap of last month's market stats in comparison to the prior year regarding new listings, median sales price, days on market, pending sales and closed sales.New Listings for Detached Single Family HousesJan 2024 - 1,484 compared to 1,425 last January, up about 4.1%Feb 2024 - 1,345 compared to 1,334 last February, pretty much the same level of supply as last year.New Listings for Condos/TownhomesJan 2024 - 933 compared to 811 last January, up about 15%Feb 2024 - 851 compared to 735 last February, up about 15%Median Sales Price for Detached Single Family HousesJanuary 2024: $980,000 February 2024: $1,043,900 is the current median sales price last month for a house.

@Devang Patel I tend to think that investors get caught in a feedback loop about what the "right decision is", and this tends to just lead to inaction. 

@Wes HagmanThere are a ton of STRs in Canyon Lake, so I'm guessing that ordinance was reversed or never put in action.

Participation in actively managing the property, in addition to other factors, changes whether or not losses from a rental (losses that may include bonus depreciation) can be used to offset non-passive income (W-2, 1099, etc). ...

In my state you can have a license and be inactive, but you can't really "do" anything with an inactive license. 

I got back in active duty, they offered my job back a year after being out. 

In NC you can have a license and be inactive, but you can't really "do" anything with an inactive license.