In my observation on STT, I think rents are starting to decrease and normalize. 

With multifamily (which I primarily invest in) if you are able to increase the income and/or decrease the expenses you impact the NOI and that is what is used to value the property -- NOI/CAP = Value.  

I'd say increase/decrease the purchase price so there is money on the table for them to pay monthly rent.

Population is decreasing more rapidly. 

(3) If you choose not to inherit, how do you decrease the vacancy period?

This will decrease the amount of unqualified applicants while saving you the most valuable possession, your time.

Is income increasing/decreasing?

The average 3-bedroom in 77550 grosses around $40k/year based on Airdna data.I do believe there is a cap coming as the amount of STRs begins to cause rental prices to decrease but as that comes, properties that aren't managed well will come back on the market for people to own as primary residences and second homes.

Answer: Save up more money, increase your income, decrease your expenses, and improve your credit

If you are considering a home targeted towards families and the area is aging, you will likely find demand decreasing.