I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side.

I am in Florida and we have a strong STR market and most of my buyers bought at high rates and using AirDNA we were pretty spot on for the numbers and we were successful in being profitable.  

Interest rates are pretty universal across country, you are in a high demand, high cost area.  

Prices a few years ago were based on expectations of (in addition to interest rates staying low): - Then current operating cost assumptions (like insurance cost expectations being flat)- A seeming disregard for record levels of new inventory / supply hitting the market- Extremely high inbound migration expectations which are likely to not be met, due to both natural disasters and the boomerang effect when people from California or the Northeast move to the American South and hate every minute of the humidity, the large and relentless swarm of insects, and the occasional hurricane. 

(Currently managing STRs and that’s taking up a lot of our time)* MFH vs SFH: We could consider a small apartment (20-30 units) but we are mindful of vacancy-risk of SFH and high-PM-cost of MFH.

I'd highly recommend attending some local reia meetings.

It is a new construction where they will not reduce the price in lieu of broker commission to keep their comps high.

Our Newport condo has consistently been rated highly, and we have been using the same cleaning crew since XXXX because they have consistently done a great job.

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

Coupled with persistently high interest rates that may last for years, rising insurance premiums are inevitable, regardless of your property’s condition.