How do you think choosing the right location in Texas impacts the success of a real estate business?

That is the best advice I can give you.The forums have several folks that have gotten hosed by the city trying to do a STR even though they did everything right.

I would rather take 1 year to get all zoning done on a site where no other competitors can come than to be able to build something day one with lots of comparable lots around me.  

We do this with specific properties in our management portfolio here in Columbus.

Needed advice and guidance on if I should initially start with a Series LLC or do a traditional LLC for each property.

Only one bank account needed, but you'd have to track income & expenses to do transfer and year-end accounting.As @Nathan Gesner mentioned, not really worth it.You two could also open a joint bank account for collecting rent and pay expenses, just be sure to track everything.Do NOT do what @Paul De Luca stated about transferring title!

I might be the right thing, but I do not know.  

Doing so can maximize your chances of achieving consistent and profitable results.

Do you have flood insurance?

what more specific questions do you have?