I do have copies of the leases, Rent rolls and the P&L Sheets. 

L/O is a great strategy but you need to learn how to do it and do your due diligence.I am just buying 2 more properties using this method.

Quote from @Nicholas L.: @Scott Trenchthanks for weighing in. 

Quote from @Kristen L Garner: Hi!

Like everyone said.Grab up @Avery Carl's first book - https://store.biggerpockets.com/products/short-term-rental-l...Then grab her next book which is available for pre-order - https://store.biggerpockets.com/products/smarter-short-term-...Seeing as you are new the STR business, these are great books to grab up and read.

Quote from @Nicholas L.: @V.G Jasonthat's an interesting point. 

For the remodel I am thinking of extending the main home (which would make it "L" shaped") to incorporate the detached carport and detached bedroom/bathroom.  

However I did find that HRB charges a fee for every W-2, 1099, and P&L as well as any other form you gave them when preparing my taxes so what was once a $300 tax prep had turned into about $1700 the last year he did them.

If anyone is going to tip toe into executory contracts (CFD or L/O), you should be able to cite chapter and verse of Texas Property Code, Chapter 5 (Conveyances), Subchapter D (Executory Contracts). 

Has anyone else experienced delays with L&L?