Failing to follow proper procedures will cause even more delays.  

—and work with an accountant to make sure everything is properly documented.As long as your primary goal is to sell the property after renovating, your profits won’t be taxed like long-term rental income.

Several things to consider: 1) One of the main purposes of segmenting your assets into separate LLC's is so that your personal net worth or equity in other business ventures or properties isn't exposed, so unless you have a high net worth or a lot of equity in a property, it might not be worth bothering going the separate LLC route, especially when it restricts your financing of the property.  2) Most any commercial financing you get from a local bank for a small property is going to have recourse anyhow and require that you sign a personal guarantee, so you're still personally on the hook to the bank even in the case of a commercial loan.  3) If you're a newer investor and buying a deal that's tight on cash flow, or if you don't have a ton of cash sitting in the bank already, your greatest risk factor as an investor is your investment failing economically due to poor financing terms or not operating the investment properly, not because you get sued. 

There's no right or wrong way to do this, just varying levels of risk and the only proper route is the one you understand. 

We don’t have any explicit wording in our PM contract regarding coordination surcharges, but would a 25% surcharge be reasonable?

Construction i completely understand it runs in my family. money is not a issue for me is getting the proper knowledge in this field so I do not fail.

I've been hearing 'horror' stories of business (even large ones) ditching the Austin area...and Elon taking back is application to be part of Austin proper.  

There’s a lot of opportunity locally, but one of the 3 keys to success in STR investing is having enough cash to do them properly.  

My best advice is understand zoning and density to make proper land valuation, then proper DD.

However, in markets, like Dallas - proper, condos do well, but there are so many things to consider.