You have to consider that you're improving your rental class also by making your units better than your local competitors and setting the price and standard for how your units are. 

Neither of the above is either good or bad but just good to keep in mind, and not that you'll be investing purely based on appreciation anyway.From an investment standpoint I'm not a big fan of condos because: 1) there is usually an HOA/COA to conform to and with also an association fee; 2) there is no unit location 'uniqueness', sure some units may vary slightly but generally, you have a list of competitors with a product just like yours, to left and right of you should those owners decide to rent their properties as well.

They will be a competitor in every major city soon - however, their purchase techniques are unlikely to overlap with the majority of distressed sellers that we work with.

Partner up with someone who doesn't view you as a competitor and is willing to teach you something.  

If we would have looked solely into major cities, then we would have surely been out-offered by any competitor in the area.

I’ve already taken steps to make the price more in-line with competitors and increase advertising.

Hi @Laren Eustace,My competitor uses SIPS panels for their construction (which is a modular construction material).

Most people that don't know anything about jobs are uncomfortable paying by the hour, so the contractor has to figure out how much they think it will take, the costs involved, how much profit they want to make, and how much a reasonable competitor might charge, and then price the job accordingly.

I manage 350 units while my largest "competitor" has 100.

It has been way too low (airbnb) or on the high side (Vrbo).I do like the Marketmaker tools built into Vrbo (free) that shows charts of competitors pricing vs yours and booking trends.