Determining Market Saturation?

[Cody Reed]

As I embark on the purchase of my first single family rental property, I am questioning every move that I am about to make. The most concerning for me is will my property turn over in a timing manner and at average rent price. I am in the Tulsa, OK market. I'm confident with my knowledge of the area, price points, and how to cash flow. I just can't stop thinking about all the available doors for rent as I drive my daily routines. I have compared a few cities with Tulsa using realtor.com and zillow, and have found consisted quintiles of rentals available per capita(I know there are more available properties and this has flaws in comparison). Also I have read a couple of the HUD analysis with only little knowledge gained from those.

My thought on this issue are the obvious ones, I could have a better product to offer at a lowest price. In my mind I know I can offer that and still cash flow(it wouldn't be something to brag about) but that is not why any of us are into real estate. As a newbie I have the conservative mind set to this and plan for the worse of out comes.

So I ask, how do I determine if adding ANOTHER single family rental is no big deal? Once a hard yes is established how do I break the fear of what I explained previous? If there should not be more rentals added to the market should I get with a network of local real estate investors and try purchasing property from someone?

Thanks, Cody