I know your market is hot, that will just force u to be more competitive and sharpen your skills..what doesn't kill us makes us stronger right!

However, more than one local investor has told me that starting off flipping right now in Mpls is a bad idea because its too competitive which results in it being virtually impossible to find a good deal unless you're an agent or contractor, and also means that prices are driven up, making them not so great deals in the end.

If I can press a property into service for under 15k a unit.. and make 650 rent the reits are not much competition to me since my administrative costs are less.

From a borrower's perspective, the rates are very competitive as people need to place their money.

From what I see on their offered properties by most of the current wholesalers there is allot of room for improvement in the services offered and an area where you can become very competitive with those in that field. 

If you brave the bees and get in to inspect after hours you might outsmart your competition on this deals and have a fewer bidders on the deal run up the price?

I have learned that I need to get better at quickly coming up with an accurate ARV, repair estimate, etc. in order to be competitive in this market.

Maybe @Johnson H. can give you some tips too, if he doesn't mind the competition..

Not cheap per se but very effective way to check out the competition.

This is one of those things where you have to know your competition.