If yours isn't renting, it's possibly priced to high compared to the competition. 

@Lucas Schlund there are logically, 3 options:1) Buy Cash: PROS: You can get better prices on houses because you can close faster with motivated sellers and buy houses that need repairs to qualify for a mortgage (less buyer competition)CONS: takes the longest to save the funds2) Use Rehab Loan:PROS: Same as #1CONS: more expensive loans:---FHA 203(k): not that expensive, but must live in the property for 12 months before renting---DSR Rehab loan: relatively expensive and may need experience to qualify3) Mortgage on Property with Cosmetic Repairs:PROS: easiest & cheapest to doCONS: lots of competition, so can be hard to find a "deal"PM us if you'd like to discuss these in more detail.

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I just closed a deal to get to 12 STRs here and I am personally going to hit the pause button and transition towards more LTRs unless something really good comes across my desk. 

Nasty- I like nasty properties, because there is less competition to buy and more money to be made. 

Definitely look at your market to see what the competition looks like.

Should I tell them I’m raising the rent due to lots of competition???

While mortgage rates are a non-issue for you, the challenges of rising insurance costs and market fluctuations might deter other buyers, potentially lowering competition and prices.

I've learned to push the limits while still being polite, and to find ways to make our needs match those of the seller.We set ourselves up for success in the competitive real estate market by learning how to negotiate, figuring out why sellers do what they do, and using good methods.

Keep in mind, most sellers know that a money market throws off nearly 5% right now and the terms I see expected are not competitive with a bank.