You can get much better returns and less competition than a condo.

Is this common, or are we overpaying due to lack of competition?

Never invest in any city on this list.Low operating costs: Every company faces competition.

I bought a State Farm policy on a STR and LTR, their prices were competitive and they were easy to work with considering the home is 100 years old.

I think someone mentioned earlier, it all depends on conditions and competition where you are.

If you're considering buying a foreclosure, it can be an excellent way to get a deal, but be aware of the risks like property condition and the competitive market.

Here are some of my thoughts: 1) they are work and have risk 2) in this hyper competitive RE market, there is not enough profit in the rehabs of most MLS listed properties.  

I think I have a short window of opportunity to buy as a lot of people are still waiting on the sidelines for lower rates, so less competition.

Quote from @Sanil Subhash Chandra Bose: Quote from @Jay Hinrichs: Very good.. reality is though very few will do this to much work.when I was full time buying courthouse steps I would occasionally go into the recorders office and see my competition doing all this busy work.

So even popular rent estimate tools seem a little inflated unless you're outpeforming the competition with what youre offering.