I manage both SFRs and multis in Houston.

Areas like Memphis, Little Rock, Dallas/FTW, Houston, OKC, Tulsa, St.

And before someone says that's the market in Austin, while that's also true & false I did the same things in raleigh, same things in Charleston, same things in Houston, same things in VA beach, same things in Madison. 

I’ve recently started focusing on markets like Houston, South Florida, and Indianapolis and would love to hear from seasoned investors:What’s the biggest lesson you’ve learned from a past project?

I am from Texas/Houston.

The first international route from Houston to our local airport opens in April of next year, so we're going to heavily target US buyers.

Staying at flamingo island using Marriott points and Hyatt casino using Hyatt points flying business with AF flying blue to Paris in Mag with my wife and 2 kids 45k points each leg, staying at an Airbnb paid cash and in Budapest at the W wirh 6 night cerficatesgoing to Italy in September flying economy in Iberia for 4 people, 25k Alaska points one way ($1000 per person when i checked) staying at the grand Victoria hotel in lake comp with my 3 night Hilton verticales ($1300 per night value) still planning the return and the rest of the trip

Also the Adelson family of Las Vegas Sands fame have purchased a couple of big parcels with hopes to build a giant casino/convention resort perhaps anchored by the arena for the Mavericks for which they also just purchased majority ownership from Mark Cuban. 

The local casino just replaced free charging with 50c/kwh (4-10x the home price.) when they figured out people were just leaving their car there to charge while they went home.

Great point @Jonathan Greene I have seen new investors making these mistakes over and over in the Houston, Texas Area.