This could depress rental rates which have fallen y/y by 9% in Austin and other formerly Hot Cities already.

Any tips for navigating the competition in such a hot market?

Great to see you're in North Carolina—a lot of hot markets there.

The seller must think he is sitting on a really hot property, or the buyer is asking for too long of a DD period.

Quote from @Rod Hanks: Party 1 seems like a slam dunk no brainer over Party 2. 

We knew there was some hot air in them, I expected more fraudulent folks to have created note "funds" and it pyramid down and blow up but i think a lot got stopped in their tracks when they were anticipating a rate cut and not a lot of higher % debt notes to be offered so they never indulged in such tomfoolery.

I know some might disagree.The challenge is if someone applies and meets all your criteria and you reject them, I would hate for you to end up in some legal hot water.

I know it was really hot when the remote work model was more widely adopted.

I worked for a bar company and we went around grabbing beat up spaces and turning them into hot nightclubs. 

In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.A few tips:1.