There is more competition and lower ADR.  

I would prefer using Pricelabs over Airdna so you can see where your competition sits near you. 

I am interested in knowing how it went  and if the auction was heated or not (competitive). 

Doesn't mean you're doing the work forever but it gives you a competitive edge when looking for distressed deals.

The competition there can drive prices up, making it harder to find properties with good BRRRR or flip potential.

One was because of poor management and the other because the property needed major renovations to be competitive in the area. 

You still have a month but I do think MTRs in markets with a lot of competition can be a bit harder to get bookings on before you have reviews.

The market is slower and less competitive so for buying is great during the holidays so listing to sell in the fall works. 

It may help if we knew what market this is in.General advice is the market is competitive everywhere, so do not skimp out on furniture/upgrades/amenities/photos etc

Incidentally, what I posted is how home loans work in most countries on the planet, the kiddy-glove 30YF is the exception globally, not the norm.For a new and inexperienced developer, banks don't currently have appetite, so model your numbers on a hard money loan at 12% to 15% (I do not offer these).