Ironically, Waco outlawed all new STR's in residential zoning a few months after I created this post.

@Neal Daftary help us out here.

I feeling that running into obstacles that are making the goal overly delayed.I guess I send this message in hopes of help for  words of wisdom or encouragement. 

 @Pretty KhareAs others have mentioned, you do need a savvy CPA to help you with this so you are on the right side of the IRS.

What materials do you want to use? 

With all this investment bringing in business, high-paying jobs, etc over the next few years it seems like it's a solid potential opportunity to get in.

@Sudheer Kumar - we can help here but need to better understand the Refinance out of the loan assumption better.  

However, with the frequent incidents and the persistent odor, even after cleaning, I’m beginning to wonder if this has become the norm for STRs in urban areas.Any advice or tips on how to prevent this would be greatly appreciated!

I was at BPCON this year and a few people recommended Stessa so I just switched from Google Sheets over to Stessa. 

So if your tenants don't like you they can do this just to stick it to you.