I used to live in Houston so am very interested in this info.  

My financing strategy would be to HELOC the down payment and repairs then, as quickly as possible, do a DSCR to bring the mortgage together and lock in a lower interest rate.

It’s great to see you diving into real estate, and it sounds like you’re on an exciting path.

If advanced bookings come from VRBO that is theoretically at a better rate.

The builders rep has no incentive to look out for your interests.

interesting thread to read!

I had a lot of luck with ASI ASI and Safeco early in my journey, and then I stumbled upon a different class of insurance companies that are more geared towards investment properties.My policies are currently underwritten by SES and they have been great to work with and very geared towards the investor.My insurance agent is a sage source of counsel on the subject and I bet he'd be a good resource for you if needed!

That said, 20% seems to be the going rate for STR prop management.  

Next meeting and CE class is October 17th in Chandler, let me know if you're interested and I'll send you more info.

(The current labor rate for my apprentice carpenter with 1 yr experience is $117/hr.