Here's some questions for you to consider since you will be undertaking heavy renovations.

Depending on terms and overall cost, 7.8% may not be super competitive. 

Building a compset and diving into the details about the competition, cleaning fees, length of stay, and really, seeing who is out ther doing STR versus MTR etc. 

James Dainard is a prolific professional house flipper, with a track record flipping nearly 4,000 homes in one of the most competitive real estate markets in the US - Seattle, WA.

Many turn out to be nothing more than birddogs as they call the heavy hitters who in turn provide solutions of who will buy.....and all along the notes pretty much end up in the same holding tank.Not saying that is what goes on with our three newest members, but it's out there.

We leveraged our expertise in negotiation to secure it at a competitive price of $140,000.

How about when your competition is using bathroom sinks that are the ones that bowls ON the counter instead of in the counter?

Quote from @Dylan Jeluso: This questions is the same question as getting your real estate license when doing flips, you have access to the MLS, you save money on the commission, and you have a little bit of a competitive advantage over the next person that is not licensed.

If you have a competitive advantage in IN, I would go for it.

What's your pitch to sellers in a competitive market when you are up against experienced wholesalers?