I don't live in Texas, but am a veteran of 6 MS 150 rides in another state. If you don't mind camping, staying on-site it preferable to going off-site to a hotel. I've done both, and prefer to bring my tent and gear to stay on-site - more fun, and a much easier time in the morning.

Just my $0.02. You'll have a blast whatever you decide!

SheFly