On-site lodging gives our venue a competitive advantage over others without lodging, and also provides us an income stream on non-event nights (by renting them on Airbnb/VRBO/direct).https://www.battengreen.com/

You’re absolutely right—speed is such a critical factor in securing deals, especially in a competitive market.

@Elizabeth King Your property does not need to be in an LLC to benefit from real estate tax advantages.

One of the primary advantages is the potential to acquire properties at below-market prices.

@Sam HendricksenMultifamily is super competitive in this area and you have a huge advantage over your "competition" with the fact that you are owner occupying as most deals nowadays hardly cash flow. 

Does anyone have any advice for people starting out in this competitive field?

There are a lot of LL advantages due to the low vacancy rate.

They all had a very strong competitive advantage and focused on growing.

Since few lenders have the stomach to do this, it’s also been a great competitive advantage for our business.This horrifies almost every private lender I know.

I'd lower the price slightly below your competition and get real reviews.Be customer focused.