If you pay the same two points in your scenario, you can get into the low 6% range.

We are long-term investors (10+ years) and plan to use the properties for cash-flow when we retire in 15+ years.

During the pandemic I was working with several traveling nurses who were looking for short term rentals in the area, close to hospital systems, and were willing to pay 50-70% over market rent for 3-6 month leases. 

This is tough, eats into your margins and normally you'll pay more on your first few projects developing the relationships and it'll get more favorable to you over time.- ACTUALLY does good work.

11DefineConsult an interior designer12PlanCreate project plan (timelines, key dates, who to contact)13PlanCreate budget and brainstorm financing options14PlanSecure financing15BuildGet permits and licenseses16BuildGet water/electricity/power hookups set up17BuildPrepare for build (e.g. lay foundation)18BuildBuy structure19BuildBuild and remodel structure (insulation, electric, siding, etc.)20BuildBuild out interior design (e.g. paint, decorate, etc.) and buy appliances/decor21BuildBuild out lawn and landscape22BuildFinalize the exterior of the building (e.g. paint and fixtures)23MarketTake photos24MarketCreate listing25MarketCreate websiteThanks!

Not sure how rentals work in Texas but in New York you can still have the tenant pay the broker's fee.All the best!

Next, pick your plan for investing.

I am currently paying $1700 in rent and I despise paying rent, especially being in a financial position where I can afford to build equity in some manner or get a cashflowing asset to offset it. 

If you have no insurance, your LLC would have to pay for the legal defense. 

I'm not sure if you are looking at zoning attorneys but they charge $500 per hour at a minimum in my experience. there are specialty land planning groups and entitlement groups that make a lot more money for you and charge a lot less. depends on the market but happy to help in miami I live in brickell