With SS becoming more popular it just naturally becomes more competitive driving cap rates down and values up.

At the moment I'm only realizing a small fraction of this loss on my personal return because my W-2 income is close to the upper MAGI limitation per page 5 of the 2019 Partner's Instructions for Schedule K-1 (Form 1065). 

When I started I house hacked then did BRRRR deals and owner finances because they allowed me to have little to no money in the deal (and in some instances get paid at closing) so I could continue to buy more rentals.It's all about finding the right deal that fits your goals and competitive advantages.How are you finding deals?

You'll find you have slightly less competition in FV than the hot spots in Wisconsin right now.

Reasons are lack of knowledge, lack of expertise and experience, under capitalized, too much competition, don’t like the work required, lack of time, frustration, inability to stand large amount of frustration, legal requirements not being met, disappointing results.

We also don't want to go into Chicago too far as it's a very competitive rental market. 

In some markets where its ultra competitive waiving the inspection will make your offer stand out.

They are all in really competitive price points, so I don't expect we'll have any issues. 

Is that a good thing or does that mean lots and lots of competition? 

The Phoenix market is the most competitive I've seen in 16 years!