You might have more competition there but your odds are better.  

The competition is much tougher now vs 10 years ago, lots of mom and pop flippers out there over paying for property.

This market is crazy and the competition is as fierce as it gets, so you have to make up your mind if you really want to be a real estate agent for a long time, dig in, and really build a business, otherwise i think it's not worth the tradeoff.

One thought...we live in a pretty competitive market here and an fha 203k could put you at a severe disadvantage in trying to acquire a property.

I have been noticing the competition stepping up in mainstream investing as of late.

@Keeya WangJones, be aware that the terms "2% rule" and "competitive market" are mutually exclusive!

We can also pay this guy off for a tiny fraction of that price to get this done quickly. 

Auction.com is hired by banks to sell assets to highest bidder through quasi on line auctions.in some states LIke Alabama they are actually the criers at the public court house auction.. if not sold there then those assets are brought into the loss mit departments then listed with auction to be sold on line at some point in the future.I like it as they require actual money to buy this stuff as in you need healthy deposits and REAL POF's and you can't assign contracts etc.. so it mitigates competition with the no money wholesalers that are out there by the millions  LOL.. 

I ran an analysis if we were to rent each bedroom at $650 (which is competitive for this market), include all utilities, include the missing expenses from owner's log and furnish each apartment, the monthly cash flow numbers look much better.

This means you need to buy especially well a(t a highly discounted price).Having a great and trustworthy contractor helps too on things you won't be doing yourself (permits).Finally a flexible Realtor is one of my must haves, one that can bird dog you deals and sell your flip for the ARV price they gave you at the beginning.Good luck - there is a lot of  competition in Wilmywood.