Texas is a great state to hang up your license and with property values increasing and rates on the edge of a breaking point. 

Although from what I read, State Farm is rated highly for rental units. 

STR's are a great investment in this area, occupancy rates are extremely high in the summer, and very high during the spring and fall.  

Even if nightly rates didn't continue to rise over time, breaking even now would still be a free house in 30 years that I could sell and use for a retirement nest egg along with my 401k.

Regardless of my schooling I'm glad this forum got your attention and i had a chance to shoot it with you.

Higher interest rates have made it difficult for buyers to secure loans, while sellers are hesitant to part ways with their fixed-rate mortgages.

Rent rates will go up, but your expenses should remain stable or go down.

Wait a few years and you may be able to do a rate and term refi to remove the PMI

Lenders are going to charge an origination fee and interest rate for each project.

I'd like to rent the property out for a few years, see where interest rates are at the end of the balloon, and decide whether to refinance in order to keep it or sell it.