It really depends on location, quality of home features, amount of privacy for renters/members, and competition.

Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

According to the National Association of Realtors (NAR), as of 2023, housing inventory remains 40% below pre-pandemic levels, leading to heightened competition in many areas.To be considered a neutral market, not seller's or buyer's, the specific market center would need to have 6 months of inventory.

sounds like it was pretty competitive.. 

Is yours unique, or is there a lot of competition?

I planned for it financially, but it's a headache for sure. your rent is too high if they are sitting vacant.. there is more inventory than butts to put in them.. therefore competition for the few qualified tenants this will cause rents to go DOWN.. if a property is not rented in 2 to 4 weeks your rent is too high .. this is one of the major risk factors that many dont see when buying in a subdivision of group of ALL new rentals..

You want to know the total demand and the existing competition.  

He said that they're usually very competitive for properties this size.

While investing locally is usually the easiest route, SoCal can be challenging with high entry costs and competition (though it’s definitely doable!). 

However, based on their website, they do offer competitive programs for fix-and-flip investors.