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@Jay Hinrichs You are correct, in Texas in general you get through land use planning and jurisdictional review much faster than places like the west coast, but Austin is an exception to the Texas norm.

Find attorney, collateral storage/review co, servicer, preservation co. and title company in that state.3.

This would only make sense to me if it appraised for significantly higher after your updates (which seems unlikely) so that you could do a cash-out refi or sell within a short period.FWIW, I'm concerned you are using some questionable metrics to judge what makes a good deal:Taxable value going up is bad because taxes then go up. 

Also there's this new site called "amazon" or something like that where you can look for books and even read reviews of what other people thought about them!

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I'll add that as I was reviewing properties I noticed some of the listings have property taxes and insurance broken out.

And if not, I’d recommend you visit The Real Estate Crowdfunding Review to learn about passive commercial real estate options like syndicators and funds.  

Divide that by the number of humans under its roof and you will have “Percentage of happy per human” which is an important metric in STR.