It's competitive but because there is opportunity.

However, developers can sometimes overbuild such that all of their new apartments suppress rents and occupancies of their competition.

A large group like Keller Williams will have the best training but you'll also face some tough competition.

The drive towards newer homes for investors has been that there is a lot of building going on and pricing is still very competitive with new homes making the difference between old and new pretty slim. 

Get started househacking and you'll be in a good spot regardless of what the global economy does.

My competition didn't have clean houses or there was no cable/wifi or there was no washer/dryer. 

First, I think they would make the kitchens look a lot nicer and would in turn improve tenant quality / demand slightly higher rent in a competitive area.

Is it a smart idea to put a contingency on the condition given that I live in a competitive market?

The long-term owners don't want that and, frankly, those currently renting don't want the additional competition.

@Billie ChenThere is normally less competition for homes that need work done.Less competition = more built in value.With that said, if it is your first deal, you may want the easier one.