The podcast highlights the ongoing success of value-add renovations in the multifamily sector, even in competitive markets. This business idea involves offering consulting services to property owners and managers on how to effectively renovate older units to enhance their appeal and increase rental income. The consulting service would provide insights into cost-effective renovation strategies that yield the highest returns on investment and align with market demands. Target clients would be property owners looking to improve older properties in high-supply markets, and specific tactics could include conducting market analysis, renovation planning, and project management oversight.