The services include house manuals, key/code exchange, handling repairs and incidents during and after the stay, cleaning, counting inventory, and updating photos/information on the listing website. 

Purchase price: $480,000 Cash invested: $1,000,000 Sale price: $1,600,000 Commercial Property built 1915, Construction Project in 3 phases. 14,000SF complete rehabilitation conforming to current building codes.

When I moved to Houston, I rented out two rooms in the 77449 zip code of Katy.

You should probably consult a lawyer and cpa to help you decide.As a general rule, for LLC owning directly real estate, it is often recommended to have the LLC recognized in the state where the property is located as it is a requirement if your LLC need to be represented in court (think eviction or code enforcement problems).There are ways around like using a local operating entity or even in some cases land trust.The choice of the LLC state may also be based on some cost factors.Last but not least, while all LLCs have the same inside liability protection, states differs widely on outside protection.

I invest in Austin for investments only so I’ve a strict criteria on what I’m looking for such as cash flow and little to zero in the deal but even that is possible in Austin if you look hard enough. 

One risk I want to point out with Syndicates / CF is the financial rigor and due diligence.Public companies are audited by the SEC and produce quarterly reports; With direct-RE, you have title and money in the bank to audit.With syndicates / CF, you trust the sponsor to do financial due diligence and to not cheat you.IMO - based on the above pros/cons, it feels the public markets (either stock or REIT) are strictly better than syndicates / CF.

Then Code enforcement uses the information in the CU report to start issuing code violations (usually within 10 days of the CU report being publically recorded). 

For my projects, I buy all the “finishes” which are pretty much anything you can see with the naked eye (except for paint, which I just give the contractor the color codes).

Check out zip codes... 93704 and 93705.  

I don’t understand why they are so strict.