Hi Lorenzo, Within my 20 years of experience, I’ve seen this play out many times, especially in competitive markets like East Boston.

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.

The seller setting the amount is illogical, and anti competitive because they set the amount under the threat of a group boycott if they offer too little. 

I just had a vacancy come up in the middle of a fourplex escrow and the seller had the unit re-rented in under a week for $50/more per month. 6) Yes it's hot, but with individual metering the landlord doesn't foot the electric bill 7) Yes the market is competitive here, but mostly for 3/4 unit properties.

What is advantageous is someone that is good at underwriting and unbiased (only analyzes the deal based on the underwriting without other emotions).Note i have a fair amount of experience and plan to place a competitive offer tomorrow that the underwriting dictates not placing a competitive offer.  

I knew some of the top court house guys and they did volume 50 to 80 deals a year  average profit on those given the Uber competition and having to pay HML rates was 20 or less..

San Diego is a competitive RE market with decades of near top of nation appreciation and rent growth.  

Seems like 130 units is a beast to manage, I'd love to hear about your on-site management systems and "experience management" process to stand out amongst the fierce competition in the smokies. 

@Rishika Garimella I am a local home inspector and investor in the area. i think Austin is a sleeping giant right now. the rates are really scaring away buyers. but since competition is so low right now, its a great time to snag some property while its not being ripped apart by investors. i think the hutto manor area is a great choice, once that freeway opens up that connects taylor to round rock, it will definitely become a point of interest.

For the past 4 years I've been focused full-time on the niche of pre-existing non-conforming land parcels and/or land that is considered undevelopable.Basically, I focus on rehabbing lots instead of rehabbing houses and I have virtually no competition up here in the New England Area.Is anyone else here doing this?