So instead of getting in a bidding war with 20 people, look for the off-market deals.

It may very well happen but I would double check your estimates.If you can get 7%+ cash on cash returns on a duplex in a non-war zone property in an area with good future long term prospects, I would buy it.Good luck moving forward.

There are bidding wars on most properties.

We have tried everything to settle this in a friendly manner, however in the fall the tenant communicated verbal threats numerous times.

Hey Christopher, Making that first leap can be daunting,  I found the best way to minimize *some* of the mistakes is to analyze numerous properties before you pull the trigger. 

I'm in this for the long haul with a buy and hold strategy if that matters at all.There is a chance I could pick up a townhouse in Madison, just outside of Huntsville, for $150k before it goes on the market (therefore avoiding a crazy bidding war!).

I agree with @Steven Luttman about having all your ducks in a row, the Capital Region is on fire with bidding wars still.With buying any property always look at the mechanicals of the building, the foundation, and the roof - as those are all the high ticket items.

@Joe Villeneuve Where are you buying these properties with financing that are CF'ing $300 per month after reserving that aren't in a war zone? 

I don't have any auctions I know of but I know that if you can get an off-market deal now, it would be 10x better than bidding wars with 20 other people.

You'll have a far better chance of selling at a higher price and have a far greater chance of igniting a bidding war on MLS.