You may know this already, but out-of-state investors are also sometimes surprised by Texas’ “high” property tax rate (but no personal income tax).  

Hoping to start flipping homes personally as well! 

Love hearing about the personal goals as well!

However, the value of your labor generally cannot be included in the cost basis for depreciation purposes.Accelerated Depreciation: A cost segregation study would identify components of your property that can be depreciated over shorter periods, such as personal property and land improvements.

My first two properties are still in my personal name and I actually need to switch that up finally, so thank for the reminder.Nonetheless, you can definitely still open up an LLC, I just try to avoid putting the cart before the horse.   

Personally I would do a water change after every guest.To decide if the hot tab is a value add, look at your competition.

Keep personal and business finances separate.

Hi Kathryn - I personally would have no problem sharing insights if another host or soon-to-be host reached out to me.

@Dave Kush  I personally invest in higher end stuff on the Northside of the city so there is less distressed to choose from, but the payoffs are bigger when they hit.

All the consumer knows is what S/he sees on AirBnb or VRBO or (if you have one) your personal website.