The FEMA 50% rule does come into play, but we do a lot of ground-up construction, so some investors that do have some new build/heavy rehab experience are tearing down and building back to current codes.

2) Are you pre-approved and have the down payment in your bank account?

Was originally supposed to launch in Q1.  

While I can’t speak directly to the best STR spots in Houston, I firmly believe the College Station area is worth considering.

Wishing you all the best as you move forward in this exciting venture.

What’s worked best in your portfolio? 

@Matt Smith - as @Christopher S. mentioned you cannot use an ADU unit in Chicago as an AirBNB as the city's intent with the program is to provide additional affordable housing. 

If necessary to go through city or not..

My husband and I did about a year and a half of college before moving up to KS.

The best option is securing financing that allows the LLC to buy the new property, as commercial or portfolio lenders may accommodate this.