The only problem is that the house is old (built in 1957) and small (1039 sqft).

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

The only taxes I remit directly now are the tiny town tax they implemented of 1%.I just take my net income spreadsheet and calculate the 1% and give them a check.

It’s on the rise but you just have to be selective regarding location and try to go for turnkey or keep it minimal regarding rehab  So you don’t have a nightmare story trying to manage a rehab from Out of Town. 

I did get grandfathered in and the area where I bought is in a nice part of town. 

The income amounts look to be long-term rental (which they are and came in 30% lower than what the STR average did) and 2. why did the appraiser look at homes 20 miles away to compare to when there are PLENTY of rentals in town...

This is in a town that has a very good Private College - Baylor University.

He and his team built the app that Quest’s “fancy” 401k used.

I've stuck with the tried and true reasons I've heard to keep my search ranking high (quality photos, stellar reviews, updates to my listing) and that helps but in slow season, when I'm not willing to cut my rates as much as some of my competitors, it can be a ghost town.  

It's somewhat unusual for a large in town coastal lots or homes on plots of 1-10 acres. - Boutique hotels are on fire.