How do small investors compete with big buildings that can easily decrease their rents or offer incentives if the economy slows down?

They are not as impacted by the economy downturns.

Yes, foreigners can buy property in Japan.The Japanese Culture & EconomyWormann's book also talks about the Japan's culture and economy as it relates to real estate.

Recognize the smaller town's employment economy, demographic trends, and driving forces.Determine the area's demand for rental homes.

With its strategic location, robust economy, and diverse industries, Mobile offers a promising landscape for investors seeking opportunities in commercial properties.**1.

I’d rather diversify and have a 50/50 split between the stock market and real estate in case the economy has a recession.

One with 90+ members is great because it affords the HOA a lot of economies of scale with vendors thereby keeping HOA fees lower.Review the HOA financials and make sure they have a substantial reserve that would cover a hail storm deductible and/or other storm damage.Read the Bylaws to make sure they're rentable and check the pet limitations.Check the common grounds for any big ticket items that may need replaced soon.

From my research so far, Dallas has a lot of good real estate indicators (population growth, good economy and businesses, demand, etc.).

Fed will not cut rates if the economy is still "steaming along".

My approach is to look seriously at demographics, how the local economy is doing, the occupancy rate for apartments in the area, true average rents and if this project will support the added value (with a planned community it probably would).