I'd love to own some land here in Middle Tennessee as well.

I assume I need to register my property as a short term rental in Texas as well as my city?

For those hoping to do the same as us, here is this link to all the information for the Howard County Rental License (link, scroll down to "Rental Housing License") and the actual License application itself (link). 

Hey @Hannah Stern - this isn't an uncommon situation, depending on how well versed you are on the property it may be wise to order your own inspection to pickup on any faults that could affect the underlying policy. 

This has been very well received and we get compliments on it all the time.

Let us come to the City and talk politely about the business models of housing providers so that you can be better informed.

If you're interested, just send me a DM and I'll send you the sign up information.

This knowledge strengthens your negotiating position and ensures informed decisions.Conduct comprehensive financial due diligence.

I would not invest if the good guys are losing ground, but that would run counter to your description that it is an appreciating area.It looks fine to invest in for the information you shared if the long term forecast for the area is safe and stable to improving.

However, with a 5% down conventional loan, there isn't a strict limit on the number of properties you can acquire, as long as you meet the lender's criteria.One strategy I've seen work well is using the FHA loan to buy your first multi-unit property, live in one unit, and rent out the others.