Renting out a 4 bed will be easier since most rentals are 3 bed and you will have less competition 

Also, we have very competitive non-qm options that will allow you to avoid the overlays given when going with a GSE loan while also offering comparable rates.

You could probably go up some too since the competition all has higher rates.

In terms of low competition, unless you are buying in the most rural or economically distressed area, there is always competition.

Quote from @Chris Primavera: @Nick Velez thanks for the info and I have heard that the Gatlinburg area isn't necessarily a great market for your first investment because of the competition and amenities. 

Sevier County’s STR game is pretty competitive, so be ready! 

I totally agree with having to act quick, especially in competitive markets. 

I'm not just talking about the big national names, but smaller regional carriers who sometimes price these properties more competitively.

So being competitive means coming in at market value, or maybe even slightly below to help you stand out from the crowd.

This is not the case for the majority of metro areas across the US.In less hyperbolic markets there wasn’t an intense amount of speculation so operators didn’t pay high and are weathering the storm on interest rate resets and are finding a way to refinance Deals with maturity walls.I am finding that a lot of killer deals with my clients are happening in the sub 50 unit deal space for those who need to sell, because there’s much less competition in a chase for yield.