People respond to incentives, and if the incentives are more heavily weighted towards deal security than net price, it is in everyone's interest to go with the sure thing.

You have to put weight in the market as much as, if not more than, the property itself.

To be quite honest, my strategy is to look for old buildings requiring rehab to lessen the competition.

These include: The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) and the banking departments of various states also regulate financial institutions.Traditional Bank Cons:Possibly Lengthy Application ProcessStrict Underwriting Guidelines including financial documents to support debt to income ratiosLonger Underwriting Times that can go between 45-60+ days depending on property.Private Lender Pros:Fast & Easy Application Process due to being asset-based lender.Credit Score less of a factor as the weight is based on ability to make payments and not debt-to-income ratios.Generally quick funding turnaround between 5-10 business days. 

Lots of competition in North Jersey you need to think outside the box to lessen the competition. 

I'm still weighting the pros and cons of the conversion and considering other alternatives.

Bank statements might carry more weight than a statement from an accountant.

It lessens the risk of damage to the premises upon exit. 

The average bid at last year's sale was only 2.07% with a weighted average of less than 1%.First timer mistakes include:Not knowing what you are biding on, buying someone's open, not completing your 22/5 notice properly...

I might need to consider a weight limit for guests!