Although there'd be less competition (other homes for sale or rent) in the less dense areas, it'd just be how lucky one could get that someone is looking to buy or rent there at the right time.Is this a good way of approaching it for a newbie?  

I just started emailing, and calling people on CL who were renting what I wanted since the area I'm in is so competitive and the market was pretty dry. 

With your score, lenders should be lining up around the block to give you competitive rates.

While I don't know the state of Miami, Las Vegas is highly competitive right now and isn't the easiest market to operate in. 

Would you look at these houses as golden opportunities to make money (less competition) or like to stay away from them?

I anticipate investing within the city limits to be both expensive and competitive, so beginning in outer areas could prove better.

Brickkickers is one of the companies I like to use in the Joliet area just because the reports are clean, well documented and the prices are competitive.  

You don't have to do it daily, but try to group showings together/back to back etc. this creates competition when applicants see other applicants viewing the property.

Still feel uncertain whether FHA offers would be competitive in my market.

For example, if you wanted to gauge your comp's competition from the inside, you could call the listing agent and let yourself in. 1c.)