One year later, still no permits, and just raised the price of our home by 20%!

I also look up the property on the county website to see if there were any permits pulled for the work recently done.

Quote from @Li Kia: Yes, these are all legitimate deductions.You are technically only permitted to charge them a depreciated value.

Would I rather own an AirBNB in Galveston for the next five years where a permit currently costs $250 a year and a correctly bought deal can still perform exceptionally, or in NYC where I can no longer operate now and for the foreseeable future?

Do they have the land, permits, zoning, etc. locked up for the new builds? 

A contractor will tell you anything is possible but that usually comes at additional cost and time.Challenges - We had some hiccups in the beginning of the project that got our project held up in permitting and added 2mo to our project.

(Other financing arrangements might be possible.)You can only obtain one home equity loan per year, even if you have fully paid off the prior home equity loan.Regulation of LendersTexas restricts who may lawfully issue a home equity loan.An unlicensed person is not permitted to make a home equity loan unless that individual is either related with the borrower to the second degree, or is the seller and is providing financing for the property.A home equity loan must be secured only by the home itself, and the lender may not attach the loan to any additional assets as collateral.

My local authorities allow STR once I get the necessary permits and business licenses.

vacancy, repairs, capex, management, any shared utilities, any groundskeeping not done by the tenants, any permits or registration fees, etc. 

Additionally, I own an adjacent parcel with 5 acres of coffee and have obtained permits to operate an agricultural tourism business there, with entitlements to build two more dwellings.The estate is situated within a gated community, and while it’s a remarkable property with a lot of unique features, I’ve encountered some pushback from the neighbors, which has made me reconsider my position here.