If there's an intense process for 3BR+ approval vs simple 1-2BR approval, seeing as how that will be such a vital staple in paying my mortgage.Anyone with experience on what the Type B/3BR+ process is like, first hand or otherwise, I'd love to know how it went.

Communication skills are vital, Thanks! 

Memphis is a very unique market and think having experience as mentioned above in knowing the areas and neighborhoods to buy will is vital. 

Learning is vital to this business. 

Hey guys,As a new STR host, I'm so worried about forgetting something vital to a person's stay!

I understand that it would be vital that him and I work through under what conditions I would be able to enforce that he does not manage the property any more and a property management company comes in so that I wouldn't be stuck in a situation where he fails to manage the property and I'm not able to bring in a proper management company - I don't think this will happen, but it's something we will work through it we proceed.Again, thank you all for your time.

In the regional market, it is vital to have a true understanding of the local geography.

Just a reminder though, before you start your out of state investments, it is best to make sure that you have proper systems in place.You can learn more from David Green's The Core 4 Members Vital to a Profitable Long-Distance Real Estate Investing Team this link here: https://www.biggerpockets.com/...

I understand why this would be frustrating for an owner, but having the separation between you and the tenant is vital to making the whole thing work. 

Sales taxes for the state are comparatively low at 6.25% (it can reach a maximum limit of 8.25%), and Texas is one of nine states that does not have personal income taxes.However, as taxation is a vital source of revenue for local government, the burden falls squarely on property taxation to compensate for the lack of other revenue.