But make sure to do more research, connect with local agents that know the market, connect with investors who own rental properties in that market, and then decide if that's going to be your main stomping ground. 

If it's a commercial lender or portfolio lender or small local bank they may not care where it comes from.  

What are the best practices in this situation, especially considering any local laws and regulations that might apply?

- upping your max # of guests somehow- "no cleaning fee" & upping the nightly rate accordingly CAN be a big driver of bookings in some markets- having your listing/pics done professionally (by someone who specializes in STRs)- a great outdoor area- if you wanna spend $, i'm seeing lots of people adding pickle ball courts & more stuff to do outside like that - having a car there that they can rent on turo for cheaper than the rental cars from the airport

Also considering Airbnb type property and outside of local area if the numbers are right..

If you are laser focused on specific properties, door knock the owners if they are local.

Additionally, your local FB groups and REIA's will have them.

This could be contingent on the market you are in so you may want to source locals in your area and how they handle.  

Some clients of mine have used a local company called REZIO who will do the drawings and facilitate the permitting for you.

I would recommend networking with some local investors in Texas who could give you unbiased feedback (not someone trying to sell you anything) and 3 to 5 property managers.