In large scale new construction you are competing with brand new homes from the builder and they can cut prices and offer incentives that most existing homeowners simply cannot afford to do.  

With rates super low the argument can be made that if median home prices are in the $100-125k range, if a resident can afford a government mortgage program e.g FHA with ~4% down than a mortgage on house would compete with your park demand

So you need to evaluate can you compete with smaller margins.If the properties sold at list price or below, when you made an offer at the list;  that means the sellers believe your offer is weak.

Lot of foreign (or stupid money as some call it) that you just cant compete with.

would you use hard money over conventional to have an advantage when competing in a hot market?

@Trevor DominiqueI'm going to give you an answer that will be tough to hear and competently against what everyone has been telling you.Renting homes or apartments is one of the highest risk investments you can get into and doing a cash-out refinance is even higher risk.Let me explain.

Seems like all the Jumbo players are pausing this product.

Unfortionatly I had to compete with on other buyer for this deal, however I was still able to get it for a good price.

His own personal ethics prevented him from just walking away from the property.Other parts of the book cover the players in the local real estate game including real estate agents, developers, and city officials. 

I had to compete financially with the biggest management companies in town.