You may also want to check what your competition is in the local area.

Like you said, I will devote more emphasis on evaluating deals, making more competitive offers, and doing my due diligence when sourcing a contractor that can parallel my goals.

It is way more effective, especially if the apartment is a decent distance away.It also creates a scarcity mindset for the tenants when they see all the other interested parties and creates competition.

Could this hinder my ability to be competitive in the rental market when I am ready to list?

But if they are happy with 5% then it can still be competitive for you to give them that and pay the withholding taxes because most local hard money lenders will charge much more than 7%.

You'll get better price points on a distressed properties without the competition.  2.

Property Management: Tips for managing your vacation rental remotely and ensuring a seamless guest experience.Pricing Strategies: Maximizing rental income while remaining competitive in the market.  

Happy to put some competitive numbers in front of you, if you’re still looking. 

lol ya'll are living on fantasy island.

Especially when the economy is putting the squeeze on certain demographics...you may not be able to press for ANY above market rents - because your competition is renting for cheaper.