It is a great market.

Market might be competitive but there is angles to stand out depending on what you are comfortable and able to handle, such as waiving an appraisal contingency, limitng inspection rights and time frames, closing time frames, allowing seller to stay-post closing, taking on difficult tenants, buying properties that might need repairs, etc.

But the real key is to find motivated sellers.

However; the real estate market here hasn't stopped at all, and it's blazing.

With that, if I were the seller, I'd ask for a little more than the current market value of the land.

Anyways, on my latest project, the title came back yesterday and revealed two extra parcels of land deeded to the seller under the property I was under contract for.

Also, with a VA assumable, if the one assuming the loan is not a veteran, then the seller (veteran) entitlement will still be tied up in that property.

Also Seller hasn’t paid property taxes in 2 years which is a sign the property is in distress.

The sellers you are dealing with in these situations don't deal with prorating Taxes, or any other kind of prorations, that is what an escrow agent does. 

Purchase price: $565,000 Cash invested: $200,000 Current Price: $599K (originally $649K, 67 days on market).