My biggest fear is I will purchase a property and won't be able to rent it at 1k or 900 due to so much lower competition for the same specs in the same neighborhood. 

How much competition in that subject area. 

Is their any competition in the subject area and what are their advantages and their average rent and occupancy?

That is a TON of heavy lifting for the experienced syndicator.

If the numbers work, its legal and you can manage (or pay someone to manage) and make money, then I would say you found a unique niche, with little competition! 

I noticed immediately that the second building had A LOT of competition in the surrounding area.

I would like to mention that I am located in Austin, Texas and it is a highly competitive market and that could be part of the issue but I am sure I still need to improve my marketing and any suggestions would be greatly appreciated.Thank you in advance for your assistance.

@Jordan Santiago it does happen as @Enrique Huerta mentioned, but sponsors that are doing that probably aren't competitive these days.

These include who pays what part of title research, title insurance, lead paint disclosures, and way more than I've seen on some examples on this site.I assumed the closing attorneys would handle all of the heavy lifting but after a little digging, it looks like all of that should be on the actual purchase contract.   

Well, I got outbid on several properties, because I was looking for a decent margin, and I discovered what a competitive market flipping has become.