You've got issues.

The issue I'm running into is that I made a claim last year due to the hailstorm here in Austin.

But I guess hotels don't normally have an issue- well most of the time.

We are finding that our "pet friendly" properties are renting more, and that likely offsets any extra repairs & maintenance throughout the year for pet-related issues.

I'm not sure I have a great suggestion in regards to best ROI for you.However, I've done projects in Waco and done permitting for commercial projects through the City and know surveyors in Waco as well that may be required if you plat into new lots. 

My only issue with the above is using the zillow estimate. 

I cannot find a site where I can enter the parcel number to see if STR is permitted.

Someone I know owns section 8 properties, he doesn’t have any issues and the rent gets deposited directly to his account.

I go over our property 4x a year looking for issues.

You would have some additional flexibility and often they won't worry about your W2 income if you think that might be an issue, as well as your credit.Certainly a lot to consider, happy to connect and talk through your options if you would like!