The new regulations will make my offers even more competitive.

Note that if this goes well, I would want to continue making deals there.I don't think this is necessary in this day and age - plenty of direct lenders that can offer you good service and DSCR Loans for a wide variety of situations with competitive rates - easy to find here as well. 

Those homes are your benchmarks (competition)do what they did.  

I'm thinking that this would also be a good time for me to add another property to my STR portfolio because I think prices will be more competitive once the transaction volume increases.

My guess in many situations on probates is that you might have less competition.   

It's competitively priced and the section 8 rent - if you choose to go that route - is very strong.) 

Do fees go up or down with less competition? 

For example on highly competitive properties a concession can make your offer much less attractive.

Unfortunately, many of these homes are fairly cookie cutter and face extreme competition.

That said, it's surprising to see a lack of diverse competition in this space.