Use tools such as www.rentometer.com to get an idea of what comparable rentals in your area are going for.Pricing your property slightly below market will help your rental stand out amongst the competition and allow you to pick from a more reliable pool of tenants. 

There should be less competition as it is much harder to secure investment funding if you don't have three deals in the pockets.

The advantage is no competition.  

Besides the properties costing more, other things to consider are: High taxes Tenant friendly cities more competition from other investors When I use to work up north I tried by a duplex for over a year.

Rent them at competitive rent rates to tenants that approve auto-draft each month.

As a first time buyer myself looking for my first deal, I'm holding off for now and hoping to see less competition and influx of buyers thinking these mortgage rates won't last long (which my lenders have claimed they will likely last for the next few quarters).

Can I 1031 a property and purchase a fractional interest (TIC) in another property a family member currently owns?

In many markets, that has become "a security deposit equal to a month's rent" or even just some type of security deposit insurance program - largely to stay competitive, attract tenants, and reduce vacancy. 

Any competition or close by storage places?

They all have different implications, rights and value.You need to do a lot of research on each property as you may buying useless paper.Auctions are usually very competitive and you don’t get good deal unless you are lucky or are in the end of the world county that do only live auction where no one shows up.