I'd run your numbers based on that to understand what a realistic offer would be to most people and then see if you can be competitive. 

You purchased in 2020 so you're experienced in high-demand, competitive markets.

It's pricey and competitive, but stay in your own backyard, consistently look for deals, and you'll find a great asset.

Yes, the more units you go up, generally the less players in the game so there is some advantage in purchase competition as you go up, but also more management scale and cap ex for someone who is new.3.

I would say that your QI should be competitively priced, but the lowest price is not always the best. 

The real estate market has evolved a lot in the last few years, with more real estate investors making it more competitive and interest rates cutting severely into margins and also slowing down buyer demand (when trying to get out of a property). 

I have spent 20 years climbing the ladder working for global corporations and that tends to always keep you challenged. 

Check your competition and make sure your are under them if reasonable to do so.

After paying a competitive rate for the property management and ASSET management that the small operator does himself.  

While competition hadn't changed dramatically, we noticed some of the competition had pushed up rents on other 3 and 4 BRs in the area.