No there is still one person living there right now. 

Typically that's the roll of a business broker vs real estate agent, although sometimes one person does both.   

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! 

Talk to local agents to see what they think the value would be post construction and what the rental value / estimates would be If you get answers that make sense to you to proceed from the above then keep unpealing the onion of development and keep performing the next due diligence steps towards making this project a reality! 

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.