All new supply is permitted, and easily traceable.

Combine rent control with restrictive zoning, or a nightmare permitting process to build, and you've got the recipe for an incredibly easy path to becoming a multimillionaire.

Currently, the back house is not permitted as a living area but I believe as a "Carriage house".

As a newcomer, I recognize that finding deals, especially in the competitive Texas market, can be challenging, as noted in the forums.

How much time will it take you to get permits and everything approved, then what if you come across work you didn't expect?

I understand each city/county may have their own permitting requirements, fees, regulations, etc. but I'm wondering how people are making any return on their investment if it maxes out at 90 day rental.

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?