Should I be offering over asking price?

[Michael Morikawa]

Aloha everybody! I'm a first time homebuyer trying to get a SFH or any home honestly for my family to owner occupy. The issue is that every time we put an offer on a house, it goes for 40k+ over asking price! All the houses we put in offers for need around 10-15k in rehab that are mostly cosmetic. Anything more than 10k in asking though ruins the whole deal. The goal would be a live-in flip, but instead of selling we'd rent and do a cash out refinance or HELOC to purchase another place. Is anyone else running into the issue of people asking 20% or more over asking price??? I've tried pitching seller financing, but competing with the highest offer, unlikely the sellers would take it. I'm located in Oregon, specifically in Yamhill county but from what I hear, lots of people around the country are running into this. If so, any ideas for getting around this or should we wait? (Don't want to wait though)