Raise fees on building permits, give tax credits on renovations.Suburban sprawl really hasn't been a good thing for the US.Of course, it's all about supply & demand.But, if you can figure out why more people want to live in Hazel Park (leading to teardowns & rebuilds) versus south Warren or Eastpointe (nothing happening) then you can make millions.

I wanted to buy another house to move and rent out my current house within 2 years.I am happy to find this place so I can imporve my skillset as a landlord

Hope this helps @Blake McWilliams

This is too high to justify the ARV of 350K.

Any tips for navigating the competition in such a hot market?

How are you tackling this?

Especially if once you move out, you won't have any contigency or free cash flow for repairs or vacancy. 

Realtor might also provide a credit to you to close it out and call it a day.

Is it as simple as driving around and figuring it out?  

Once they're done, you can rent out the property, refinance,  and cash them out.