Landlord policy's have gone way up because most carriers are no longer writing landlord policy's in Texas because of the billions of pay out due to hail storms. https://www.restoremastersllc.com/hail-damage-statistics-in-...So, supply and demand of course push's up prices. 

Economics 101: Supply Decreases and Demand Stays the same: Prices Rise.

Because of this, they're purchasing their own supplies/materials with very minimal labor expenses.

The reason being is there is no more land to build, which limits supply.

I am new to the area, and I feel like the general consensus is that it's overpriced, but is the supply there?

That time brought out the worst in people and showed what we are capable of if you just let us.

In my opinion, you should identify the new asset you want to acquire first or make sure there's an adequate supply before selling your current asset.3.

The combination of hurricane damage, supply-side issues, and labor shortages at this time made finding a general contractor extremely difficult.

Can you go through the process with submitting an affidavit of your mortgage by also supplying a promissory note? 

From a rental standpoint there has been an influx of new supply (mostly high end) apartments that have both come on market as well as that are in the pipeline.