More competition > more offers > more bidding wars driving higher prices. 

So, 400k - 500k sounds like lots of money but if you wanna operate in the 300k+ entry point it get can swallowed up quick.One strategy I'd try is to be a buyer at the auctions, win a bid on a good house, close on it in cash (you should be a great deal under market value) and then get into a delayed purchase bridge loan product which will cash you out a certain percentage of the purchase and supply the rehab funds. 

I am bidding out there in two markets daily, it's been almost 3 months and I fully understand this is a process.

Most of these failed deals are being given back to the banks or bid at auction but the average size of these deals is 8 figures.

Be careful on if you do, get multiple bids and vet the GC well. 

If I would have paid more, I would have bid more)They made a mistake and thought it was a different property (there are several with the same roadname but not the same Parcel - and this was professional who was bidding on several properties)Can anyone clue me in to what the heck is goin on here? 

It's so easy to have some magnetic signs hanging around to throw on your other vehicle if you want to go do a bid and not take your big ole truck.I have no answer as to why they don't take advantage of this.....it's just dumb (maybe there's your answer :-) I have the company name on 3 out of 4 work trucks .

Quote from @Carlos Ptriawan: You could exchange one Cupertino 4BR house to one 44 floor skyscraper now LOL Maybe we should just bid this property.  

Quote from @Marcellis Mosby:I would bring the contractor with me on that viewing to get the full bid..

Trustees like Brock and Scott provide details on their open cases and the upset bid status. 10-15 years ago, they had 10X the foreclosure cases.