High days on market for rentals in Houston market
I am looking at rentals on Har.com and I just see so many rentals available on the market all over inside the loop (Midtown, Montrose, Third Ward, etc.). I also see high days on market for many rentals on Har.com (100-140+ days on market!).
If I were to invest in a multifamily or SFH inside the loop, how do I compete against all of these available rentals and all of the apartment buildings in the area? I can lower the rents but by how much (and if I were to lower too much it would not be good either right?)? I just don't see how you can make money from rentals in the area with all of the existing rentals, high days on market, etc.
Anyone have any insight/advice? I am scared if I buy a rental property that it will not rent out well and I will lose money in this market even if it meets the 1% rule, etc.