While it's definitely doable here, our market has gotten pretty competitive over the last few years.

If that is true I would probably sell and buy in a place where there is less competition.   

All 3 parts are critical to being successful here and we’ve been doing it with todays prices, todays competition and todays interest rates.  

Yes, the more units you go up, generally the less players in the game so there is some advantage in purchase competition as you go up, but also more management scale and cap ex for someone who is new.3.

Hindsight Critique•Continue to build relationships to increase deal flow•Property manager (Mercer Hughes) is critical to completing renovations and quick tenant placement•Continue to build relationships with private lenders and personal investors•Have cash available to make quick competitive offersDid you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

This will lead to many of the professionals in the same industries who already are not doing that well to fall out of competition and hence be "replaced'.

I've often found that the biggest competitive advantage you have when you are getting started is proximity! 

For higher priced properties the 70% rule gives you too high of a profit and your offer won’t be competitive. 

San Diego is a competitive RE market with decades of near top of nation appreciation and rent growth.  

Southwest Florida is definitely an exciting (but competitive) market, so props to you for diving in!