@Ryan Kelly Austin will continue to evolve and keep growing like it has been doing since its creation.

One market you might want to look into is Columbus, Ohio since the macroeconomics here are on fire with huge population growth, tons of job creation, and massive companies moving in like Intel, Amazon, Google, Facebook, Honda, Microsoft, LG, and more.

Yesterday’s projection for 2026 job creation came in at just 791,000, the lowest since 2010.

This property offered strong potential due to its low purchase price and room for value creation.

The latest official data (September) reported modest levels of job creation, but employment ticked up to 4.4%, its highest level in four years.

All real estate,  but particularly a STR community like you're interested in purchasing really is a business with turn around and value creation opportunities.

The outpacing of labor supply over job creation signals a cooling economy where hiring demand is moderating, even as workers return.Inflation, Also CoolingInflation remains moderate at 3%, still above the Fed's 2% target but unchanged from last month.

That said, I've never really even looked at the cap rate when buying, as you would be hard pressed to find a true 5 cap or above, it's really about wealth creation here.  

I do tenant screening, lease creation, rent collection, bookkeeping, etc for each unit and property of ours.

This home had solid structure and plenty of room for value creation.