And I don't see anything else in the statute that prohibits the payment of referral fees in excess of $50 by the owner or the management company, so long as neither is a licensed broker.The implementing regulation in the TAC/TREC applies to licensed brokers. 

You don't need sub-meters to implement a RUBS system.

Also, regarding short term rentals, the city is in the process of regulating with a particular stringent clause stating you can only have one short term rental per parcel regardless of zoning. 

Print it and  read it Regardless of what you do you’re 30 to 60 days out from any implementation of any rules. 30 days if the tenant has been living there less  than 12 consecutively months or 60 days if the tenant has been living there over 12 consecutive months. 

Most condos and townhomes do not allow short term rentals....and you have to have a backup plan for the ones that don't prohibit, that once you start, then they act to implement.   

Insurance - ValuePenguinRent control - Some states and metro areas have implemented various kinds of rent control.

If you are able to implement a real estate professional status tax strategy (REP) you can use passive losses from syndication deals to lower your ordinary W2 income.

@Alice ChenIf you want to use the parent-child exclusion to pass property to a child without reassessment (there are some exceptions provided for in Prop 19), I would recommend that you contact an attorney right away to plan for transfers or gifts or some kind before the February implementation date. 

I know the information they give is extremely useful, however I just wanted to be sure they have been successful at implementing the strategies they always talk about.

During those seven years I taught Submarine Escape Training in Groton, CT which implemented classroom instruction as well as practicals in the water.