Noticing a pattern lately:Some properties that look overpriced at first actually make more sense after adjusting for realistic rents and PM costs in this area.Examples:• 3-bed units renting faster than 2-beds• C-class neighborhoods showing surprisingly low vacancy• Light value-add increasing rent by $150–$200 with minimal workAnybody else seeing similar patterns in their underwriting?

The overall inventory is trending down.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents dropped MoM, not surprising for the time of year.

Texas is surprisingly debtor friendly when it comes to collecting monies.

The only reason it was is because of surprises we missed during the initial walk through. 

They’re not surprised when a roof, HVAC, panel, or plumbing line needs to be replaced — they’ve already priced that into the deal.

For inspections, simplify to milestone-based photo/video plus one surprise spot check, and disclose exact draw timelines and fees before closing.

We have a war chest (multi-6 figures) for surprises. 

Build the scope to pass inspection the first time.Loose handrails, missing GFCIs, peeling paint, torn grout, slow drains, these small items cause big delays.We treat Section 8 requirements like a mandatory checklist, not a surprise event at the end.7.

The goal is to create something that feels luxury and modern, but at a much more attainable cost — especially for renters in growing markets.One thing surprising us:The early ROI modeling looks stronger than we expected.

What surprised you?