While the township didn't initially ask for this inspection, they advised it "better to do" when I called to check.

@Kristi Barron - Seems unlikely North Texas is too strict about plans and zoning but just wanted to check if you have to submit your renovation plans to the city for approval. 

@Adam RossRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

@Heath D Wallace  check with an attorney, but if you do that then you have two properties at risk under one LLC. 

Definitely a pitfall to watch out for!

With a set limit on the number of short-term rentals allowed in the area, many feared that they wouldn’t be able to rent out their property after they purchased it.  

I would check that as well.

You still have to check and make sure any low prices aren't a guest house, mobile home or something of a lesser caliber than your property.As I check various dates and compare them, I see a trend where the Airbnb listed properties are priced much lower than similar properties on the same dates than Vrbo.

- Speak with @Engelo Rumora as he doesn't sugarcoat anything.If you'd rather do a BRRR-type deal to add your own equity, check us out in the Detroit market. - We've Class-rated the 183 Detroit Neighborhoods, which we're not aware of anyone else doing in any other market. 

I've actually gone out there (I live and work near Destin, but sell in PCB too) to look at some for myself as investments.