Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

Research competition  and determine their profitability and how much they spend on marketing, how many employees they need, and how much time the wholesaler needs to devote to the business.  

After identifying the property’s potential, we negotiated a competitive purchase price of $28,000 by highlighting its renovation needs.

I find myself spending a little more off season than on as I do more tweaking and research to remain competitive and in front of eyeballs.  

This would be primarily due to your competitive advantage of living in Chicago and knowing the market.

I am leaning toward placing a competitive offer.

The Smokies are a favorite of mine, but beware it is an ultra competitive market. 

But I do appreciate r this sentiment as it does lower competition in the area :). 

With your upgrades and competitive price, it’s all about connecting with the right buyer!

Here is south Florida the market is so competitive prices are going up so fast with low inventory.