I am not sure the latest town council view and promises on this. 

Hopefully this copy-and-paste's OK:RESTRICTIVE DRAFT RENTAL ORDINANCE PUBLISHED Palm Springs has now published the rental rules that will be proposed at this Wednesday's 5PM Council meeting, including: No more than 28 rentals per year.Letting family or friends stay counts against the limit.

Oakland City Council has a 'temporary' Rent Moratorium on the Agenda for April 5.See the document here.http://files.ctctcdn.com/6ed57cf7001/276812df-34e4...Landlords are encouraged to speak at the meeting. 

You may have better luck in the suburbs of Austin such as Round Rock, Georgetown, Buda, etc. although those markets are plenty hot as well.As far as the taxes go, they're killer, and city council just passed a $3.7B budget that will make them even higher.

I happen to be the owner of The Suburbsn Group trust and estate mortgage bankers and suggest that you want to avoid the expense of borrowing after transferring into any estate planning device like a trust because the loans are pricey.Suggest you contact your local Estate Planning Council and ask for a few CFP referrals.

It's really been a huge fight with most of old city council being against. 

Also ask about the process to get your C of O (certificate of occupancy), some times you may have to go in front of city council to get improvements OKed.

At what point should I seek legal council with a contract? 

We're probably looking at sometime in 2016 for this legislation to finalize.Here's the county document that describes Planning's recommendation to the Council, which has not yet scheduled a briefing: http://www.snohomishcountywa.gov/DocumentCenter/View/30913You can keep tabs on this progress on the county's Code Development Projects page (in about the middle of the page): http://snohomishcountywa.gov/2177/Code-Development-ProjectsIf anyone's interested in tag-teaming with this strategy, please PM me. 

The city said there was nothing they could do about the drainage, though the mayor, our council lady and the storm sewer guy all acknowledge we have drainage issues.