I personally like to buy in towns/neighborhoods in which no new builds are possible within 10 miles because all the land is developed.

Currently exploring investing in South-East Spain (Almeria) for STR.From what I read as US-resident, it's much more advantageous to invest via a Spanish SL (able to deduct costs in the tax + less transfer tax in the purchase). 

Here's an example: we use PriceLabs to gather data on all 2BD/2BA condos within a specific radius (5 or 10 miles, depending on the market).

Target ReturnsWhile target returns are crucial, these should be discussed only with investors—not brokers or others helping you find deals.Sample Investment CriteriaHere’s an example of well-defined CCC:Location: Primary and secondary cities in the Southeast with population growth.Type & Class: Class C garden-style or walk-up workforce housing with repositioning opportunities.Age: 1980s construction or newer (case-by-case for older).Price: $5M–$12M, requiring $1.5M–$3M in funds.Size: 100+ units.Cap Rates: Market rates.Roof Type: Pitched roofs preferred.Value-Add: Opportunities for improvements or better management.Why This MattersBy creating crystal clear criteria, you:Avoid wasting time on deals that don’t align with your goals.Build trust with brokers and partners by demonstrating a focused investment strategy.Increase your chances of finding deals that meet your financial and operational objectives.I'll be posting each chapter as I go through them so you can follow along from my notes and we can discuss different strategies.

Hey Hey @Veronica Mitchell - The most simple advice is to follow the CTA trainlines.I personally love the South East Corridor of Chicago which has Bronzesville, Kenwood, Washington Park, Hyde Park, Woodlawn, and South Shore.That area will continue to be gentrified because you have the lakefront and CTA trains.Others mentioned NW along the Blue and West along the Pink, Green, and Blue lines.

There is a small park about a mile from the property, so I know the infrastructure (water, electricity, sewer, trash) is available for a build. 

I have found that going that extra mile, like the couch covers etc and making sure the person with the disability has the easiest time visiting our place.As someone with a disability (I have a degenerative neurological disorder) and use a cane, I like to make sure folks with similar issues have a good time.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

Quote from @Mark Miles: Quote from @Travis Timmons: AirDNA published their annual list, and the markets topping it are: 1.

In my view, this trend is likely to persist and could be a strong demographic tailwind for a long-term investor like yourself.Specifically, Athens, AL—a city about 30 miles west of downtown Huntsville—was the #1 fastest-growing city in the state in 2023, so there’s a lot of growth, development, and opportunity in and around Huntsville proper.If you have the time, do some driving around.