Interestingly in the luxury segment (which is over 600k in the  Milwaukee Area; only 2% of all deals are over 1 million, that's ultra luxury) the percentage of cash purchases increases again. 

-Where else can we achieve an "edge" in this ultra competitive market?

Being ultra-conservative on the ARV is the most important thing.

I knew someone on the West coast who boasted about how she moved out of her East coast rental home in the middle of winter after turning off the furnace so the pipes would freeze.

But anywhere you look, the market is ultra competitive right now.

The issue now is purchase price, with ultra low inventory first time home buyers with no idea what rehab actually really costs are a tough competition to beat.

another option is ultra scrub, it is cheaper than the Sparta wall, but has better coverage than the super wall.

Regarding paint colors: We use HD Silver Bullet (A blue grey) or HD Ultra Pure White ALWAYS FLAT for walls as it hides imperfections.Good luck!

We are being ultra conservative on our ARV calcs for this reason.  

However, in the current market, those neighborhoods are the ones where buying shells will EASILY run you over 100k up to 150k with rehabs usually in the ballpark of +70k for a rental grade to boast mid to high 200's ARV.