New builds, new developments, plenty of rentals within driving distance of the city center, and there are still plenty of areas where a good eye for a rehab job will get you a good ROI.

Quote from @Andy Tack: Hi Lance, we are developing a project that is partially in a flood zone also.

I knew I wanted to develop an empire, scale my business, and achieve 100,000 units.

It is located in some of the newest developments on the north side of Katy, TX 77493 (I am not sure if I can post a link to the Zillow page or provide the address because I don't own it yet).

Congrats on wanting to get started!

Current Construction Co. and Resolute RDM have acquired this development project in Lebanon, MO.

@Deirdre Lizio see a lot of competiting PMCs start with a pledge of doing it better than "what's out there".Always interesting to revisit them 3-5 years later - after they've experienced the reality of challenging tenants AND owners.Look no further than Evernest: they started out with flat fee management at $99/month and promises of better & fairer service & pricing.Now they're at 10%, capped at $199/month - wonder what changed?

When I purchased my property, I had read all the exciting developments in the works...indoor waterpark, shops, new hotels, restaurants, etc., but was severely disappointed when I went recently with my family. 

Here are some trends that could play out, or further develop in 2025.Leasing & Tenant Experience AI-Powered Leasing: Chatbots and AI tools will streamline leasing processes, from answering tenant inquiries to scheduling tours.Virtual Tours & Digital Leasing: These will become even more standard, making it easier for tenants to rent remotely.TechnologySmart Property Management: IoT devices (smart locks, thermostats, etc.) will become more common, improving efficiency and tenant satisfaction.Property Management Software: Platforms will integrate more AI for predictive maintenance, rent collection, and financial reporting.SustainabilityGreen building practices and energy-efficient upgrades will be a major focus, driven by tenant demand and potential incentives.AI & AutomationAI will play a bigger role in tenant screening, rent pricing optimization, and even predicting market trends.Automation will handle repetitive tasks like maintenance requests and lease renewals, freeing up PMs for higher-level activities.I'm sure there are plenty more shifting trends that I haven't mentioned and that are sure to evolve over the next year. 

Regarding getting started, I recommend finding an STR owner who's overwhelmed or just worn out with managing their property, and perhaps who's also not using a dynamic pricing tool, and then offering to manage it for a very small cost.