Texas is a great option, consider San Antonio or Houston for strong cash flow, DFW or Austin suburbs for appreciation, or Corpus Christi for short-term rental potential.

With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.

I provide short term rental furnishing and renovation finish list that includes paint colors, light fixtures, cabinets etc.

HELOC= short term useFixed (first or second) = long term use like a down payment.  

As a result, this isn’t the kind of market that attracts top-tier PM talent.Your best solution might be to either:1.Take on self-management if possible (and if you’re willing to put in the time/effort).2.Find an individual you can trust to handle these properties, set up very specific instructions and processes, micro-manage them initially to ensure standards are met, and compensate them well to make it worth their while.This approach requires more oversight on your part but can yield better results in markets like this.

I've never seen a new STR law that didn't grandfather in existing permitted short-term rentals.

PMs can minimize their suffering from unrealistic expectations by showing comparable properties that are on the market for rent and having a discussion with the landlord as to how their property compares and how his property can be more attractive to renters.Landlords are running a business. 

Unfortunately the short and mid term markets are slowing down.

I do a combo of short-, mid-, and long term rentals on the northside of Chicago and surround suburbs.

I'll work with an attorney to assist with drafting that.Q2: Yes, I'll talk to my CPA but we'll most likely hold the property for at least 1 year under the LLC given our timeline to design, permit, build and sell the property, meaning I should avoid short-term capital gains.