There's a lot more competition than previous years, and prices are high.

As Josh mentioned, it's important to find your right fit, I wouldn't focus solely on price especially if you're looking to be very hands off and you're looking for quality. 

I has two GREAT property managers that immediately come to mind, one handling 5 high end high rise condos I owned in Phoenix and the other one handling a 12 unit very lower end apartment building I owned in Arlington, Texas.  

Quality over quantity for me. 

I think the first place to start is evaluating quality deals.

It's mostly Class A properties, a few Class B.You may find the below copy & paste info useful in addressing your question:----------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Lots of wrong/bad numbers and high email bounce rate.

"Good" areas will be priced high, "Bad" areas will be priced low. 

I just wasn't sure if it is my responsibility to do something if the electric bill is high and are not satisfied. do I have to be concerned about that?

A few things that newer investors should note:- it took 13 years to get there, you have to be patient- rents are high at about $1,750, so probably a quality neighborhood- looks like that is after vacancies, probably low turnover?