To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

Recognizing their critical role, the Best-Performing Cities (BPC) index evaluates the relative economic performance of 403 metropolitan areas, providing valuable insights into the strengths and vulnerabilities of these economic powerhouses.The BPC index utilizes 13 key metrics, combining labor market conditions, high-tech industry growth, and access to economic opportunities.

PM fees are high, exactly because so much work is required in managing STR.  

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

I’m targeting assets between 25-100 units located in high-growth markets that exhibit strong fundamentals.

Rents are high and demand is high. 

In fact the demand is stronger than I've ever seen it, though prices are high.

I realize I don't have the actual NOI, but that price sounds super high for the gross income you're stating in your narrative.

I know a lot of Chicago investors are here too; but if you were in my spot would you recommend Chicago as prices are too high and I have never been to the city moving next year.