We want to travel and invest and are considering converting this short term rental to a long term rental to avoid sales tax, paying utilities and general management of the property. 

A $200,000 duplex might have identical rents in municipality “A” and municipality “B” but the property tax rates will vary, local regulations will dictate licensing requirements, labor rates will vary & the particular location will dictate insurance premiums since insurance carriers will weigh local replacement costs and whether the municipality is viewed as being a “plaintiff friendly” in arriving at insurance premiums.Better situated assets will attract better tenants/higher rents & reduced management expenses Tenants who reside in better situated housing and pay higher rents are more financially responsible meaning lower rate of rent loss and will generally take better care of the property.

Generally 1 to 2 years is where I've seen the bar drawn historically.

In general, properties being wholesaled are distressed and being sold as is.  

I’ve asked my CPA to walk me through any NOL carryforward and just in general how the carryforward losses were calculated as well.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Once you have a general idea I can help point you in the right direction to people that can help

Real estate, and investing in general, is like a snowball.  

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.

Because it can take 6 months - 2 years to obtain a court date, judicial foreclosures in general take longer than non judicial foreclosures.