@James KhailSounds like you've boiled down your options to:a) in state property with tenant-friendly regulation, self-managing in a low-income neighborhood with possibly higher turnoverb) out of state property with less landlord regulation, professionally managed, in a nicer areaIt comes down to personal preference and your time value 

Having moved to Texas from Tennessee, I'm actively exploring the local market and excited to connect with this community to gain insights and knowledge from experienced professionals.

It is all about short stay for business, professional and health care stays.Also, make sure you have a real live lease for any stay over 30 days.

We agree on the direction and how to go about it but we would like it written in a professional outline that has been done before.

Keep it short and professional.

Here are five important things to consider when making your decision:Certifications & Licenses: Hire a firm with AMO accreditation and CPM professionals to ensure best practices and ethical management.Local Experience: National firms aren’t always better.

Ask em if it would be of value having a professional handle all the everything?

Couple things I wish someone told me when I rented out my primary in Katy:- your taxes will go up dramatically over time - cash flow is inconsistent- while Katy is a fantastic rental market it's still competitiveTo answer your questions: - yes, the homestead exemption will increase your taxes at a faster rate but you can protest them either yourself (I don't recommend as I've tried and it was a pain) or with a professional service- To start, you're either going to pay for books, classes, etc. or pay the school of hard knocks.

I would have required that a professional install it.

https://www.airbnb.com/help/article/2700DM me if you would like professional consulting for FREE.Mike