Closing one deal over multiple deals in a competitive environment can provide some advantages. 

So, you may elect to shoot for somewhere with less competition.

although you might pick up some bizz out at Running Y  which would be your competition.

  As a new investor out of the New York tristate area, markets here are extremely competitive and pricey.

I really can't follow the logic of the current rental while being so cash heavy,  also not following the desire to burry the cash into it.Personally, if I had this asset in this peak market and had such little equity- I would sell it ASAP, sounds like a disaster waiting to happen.

The chances of you knowing your market better than one in a different state is going to be a competitive advantage.

Only use rental analyzers to get an idea of things, then lean heavy on your realtor do get actual rental data from similar units or that unit specifically you're looking at.

You must be in California or Texas for something that competitive to be turned down.

Great agents have a network of trusted resources they can vouch for, whether it’s a home inspector, electrician, plumber, general contractor, who always does a thorough job, or a lender that provides competitive financing rates.

I had the property for 3 months, inspected and watched over heavy sustained rains, but only a few days ago I had water pooling near the spot in the basement.