With combining some simple door/window sensor, a smart thermostat, and a good web interface provider to combine this data you can have great peace of mind. 

@Ivan Dushchenko What you seem to be misunderstanding is:You can get a heloc for up to 80-90% of The Value Of The Property, Less Your 1st Mtg.You can Not borrow "80-90% of the equity itself".Simple example:$100k property $70k first mtgEquity = $30k80% heloc= $80k (80% of value) less existing $70k mtg=$10k can be borrowed (not 80% of $30k)

If you're ok with that kind of return you should be relatively safe and have operating expenses covered with that rental rate assuming you've done the diligence (it seems correct though since I know the spring, tx area somewhat).

It sounds as if he's operating like a short term rental.Also if the units are being rented weekly how on Earth is a tenant several months behind?

Here's a paragraph I sent to the city planning office in regards to the one-STR limit: "I also wish to reinforce a second concern which I heard someone else bring up to you after the meeting, which is that many owners and hosts (myself included) are operating two STR spaces on one lot.

Respond to their letter and learn as much about how they operate as you can.

I am in the process of making my first real estate purchase with my parents and its not a simple one - it is a lot in the town I want to live in with a house on it that's a demo.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I'll try to answer a few of your questions, but I am speaking from book knowledge (and evaluating a LOT of deals), not experience from operating them.

At the same time, I won’t stop being me, plain and simple.