Thanks in advance for any help you can provide!

If you want to do everything remotely, then I would recommend getting started with a TK provider that has all of their teams put together, but I would interview them in person.

Denton County offers opportunities in suburban and college town markets, while Grayson County provides affordable entry points with cash-flow potential.

Typically, we conduct background checks on only the individuals who are responsible for the lease (primary resident) and/or cosigners.

Their pro formas felt optimistic with providing 6% annual appreciation and property management that is only about 6% of rent so I take it with a grain of salt (they offer their own property management services but it has terrible reviews on Yelp so I would probably go with someone else). 

Some Attorneys will provide you with the written step by step process on eviction and you can file all the paper work yourself ( this will save you some money) or you can have the Attorney do everything. 

Happy to connect and provide you with a list of the local meet ups. my cell and email are below! 

The information provided is for general knowledge based on my experience and should not be considered tax or legal advice.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years.