Any tips for navigating the competition in such a hot market?

Without solid knowledge on this subject, you can easily end up in hot water. 

Real estate investment can be incredibly rewarding, between the cashflow, appreciation, and tax benefits, it truly is the greatest wealth creation tool. 

If you buy a hot water heater for the other unit, you can write off 100% because you have no personal use of that hot water heater. etc.

As a General Contractor myself here in east central Texas, I can tell you that connecting with local GCs via Facebook groups can be incredibly helpful.

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

@Kevin Sobilo wow thank you Kevin your response was incredibly helpful.

Real estate has now peaked my interest and I want to buy in North Carolina and I might be open to other hot markets.

The market has been incredibly robust the last few years and I don't see that changing anytime soon especially as mortgage rates continue to decrease.

Now, I’m ready and eager to meet new people and make the most of this incredible community.A little about me: I’m originally from Tulsa, OK, but relocated to Austin, TX, four years ago.