When you are buying a commodity without a fixed value - which is almost everything, but I digress - there's no definition of "overpaying" without context, and there's really no such thing in a free market since demand+supply will largely set the price.

More specific ideas for business that still operate these days: scrubs shop, medical equipment, bikes shop, pet stores, hardware stores, nurseries, beauty supplies, dollar stores, cannabis store (if legal in your state) or CBD products store, vape/smoke shops, doughnut stores, Fitness equipment store, pop-up COVID testing centers.Bonus round:If your location has a big parking lot, you can set up a "movie drive-in" on some nights and have the businesses in the strip serve the food/drinks.

If you are a lifestyle addict and voraciously follow People magazine or fashion, invest in companies where you know things before others do. 

Some things will drive appreciation more, like new business coming to town, potentially resulting  in lower supply / higher demand, and that is great.  

Hello,We are converting a house into two flats,All the gas, electric and water is on one supply, allthough the upstairs and downstairs all have meters.We would

Most college students have plenty of options if they want to rent by the room, so the supply is there.However, the model that Todd talked about on the podcast serves a different niche. 

I understand this may be due to COVID restricting the supply of houses and driving asking prices up.

If you do frequent / high volume lending and operate it in a business-like fashion, it may rise to what the IRS calls "trade or business."

Our local market has limited supply and very high demand, so they don't last long and go for top dollar!

I think in a similar fashion to buy and hold investors, flippers and wholesalers may place an emphasis on automation or creating "systems" so as to make those business structures more passive.