Research led me to a couple of videos of former ND players coming back to build development into the area.

Some people seem to get locked in to one place they find, or a place a friend or family member is selling without really evaluating the available market.In a small town in East Texas I would think your biggest risk is a big player coming to town that can absolutely crush a smaller player. 

They already lost some major players due to the state capping rates https://www.foxbusiness.com/lifestyle/california-insurance-c... will all insurance companies stop coverage, raise rates or reduce what they cover?

@Cole DobbsIn addition, I may be able to help you and connect you with some key real estate investor players in the Houston, Texas market since I am an Investor myself that have done most of these real estate investing strategies and also an investor-broker who has helped over 400 investors like you. 

I will admit they are better than some other big players, but can certainly find better rates out there. 

Quote from @Paul Novak: Quote from @Erin Helle: Nice! 

You should engage with the local players in the commercial market i.e.

You'd have to do the research locally, market by market, to determine who the players are.

Agree, STR are saturated but given the numbers, I expect unsuccessful players will leave the market.  

The pref layer is a third party institutional player.