It's pretty competitive at the moment.

I wish I would've thought about househacking back then so its cool to see someone taking advantage of the strategy.As you mentioned, Long Island is super expensive and competitive.

So competition goes up.

I did see the amount of nice house and land it possible to get in TX for a fraction of the price.

It is a common theme in the area and less competition is making it harder to keep prices down, but I'll definitely be shopping around. 

For new STR owners it's going to be difficult to get going with more competition - but not impossible.

In an ideal situation, this kind of deal can benefit all the parties involved, especially if it's a highly desirable property; The seller gets some privacy, the agent makes a few calls, and the buyer has less competition.

With the increased competition among sellers, it’s crucial to prepare a listing to stand out among the rest and work to address buyer objections prior to going on market.

Investors flock to them, so you have plenty of competition and I see super low rents.As with @Alecia Loveless advice, I would suggest buying resales. 

@Michael Csrnko1) Make sure to use a pricing software like price labs or wheelhouse to have competitive pricing. 2) Don't always give refunds or credits to guests when they complain to get a 5 star review.