I look at the flip side ... a few months ago everybody, their brother and their mother were investors - I have seen less competition the last few weeks and have had clients pick some up that may not have been able to a few months ago.

On another note, I have decided to wait for the global pandemic dust to settle before moving on any deal. 

Just before this unfortunate global pandemic hit I was working with an agent that has some homes available for owner financing.

Granted real estate prices are a slow lagging indicator and there has been so much pent up demand, competition and good jobs and low rates, rents are up and prices up over 6% in my local area. 

There is a lot less competition so now wouldn't be a bad time to enter the market.

I then take the CMA(Comparative Market Analysis) for the property and come up with not only the ARV(After Repair Value), but I also create the MAO(Maximum Allowable Offer) number so that you can see where you need to be to make a competitive offer, and more importantly are able to make your projected profit number.

I think that even well-capitalized landlords should not have to bleed to maintain that situation.Aside from this, and generally speaking, I think that a hands-off government that allows free competition and does not grant bailouts in any sense, just keeps the infrastructure and common defense, is better than one that intervenes.

It may also put you at a competitive disadvantage.One subtlety that many people don't think about is that you have to always calculate repairs and CapEx based on Gross Scheduled Rent (GSR), even if you're living in one unit.

This will make these auctions more competitive and may impact market prices as the auctions become more competitive.

This would crush the chain from tenant to bank and make business so much harder to resume when we finally begin to normalize.I just have to keep telling myself that these insane laws are keeping the competition away from my deals......but that logic is growing harder to swallow day by day