The faster you can turn property the more profitable - AND COMPETITIVE - you can be in the market.On this particular issue, I recommend a few things:1.

There is a lot of marketing competition but if you can find your competitive advantage like @Dmitri L. says, there is plenty of room in the metroplex to work.

The idea is that you pay an upfront option fee (1 to 10% depending on the owners market/motivation/competition) to purchase the house later at a predetermined price while you rent it, usually at slightly higher market rents (& you may be given rent credits for monthly on time payments which will be used for your closing costs at time of purchase).  

We didn't have a lot of competition to buy it at the time.

Welcome Stephen,I like your plan, I'm in the process (accepted offer), of my 1st vacation rental.Here is a link to the forum for VR (vacation home rentals),http://www.biggerpockets.com/forums/530-short-term...You may find it full of useful info as well as reading/listening to anything from Heather Bayer (who has her own podcasts), & Matt Landau.Check out VR listing sites like VRBO & airbnb, if you haven't already, you will see what your competition is doing and decide what amenities you will need, to be competitive (like perhaps a hot tub).  

Besides, it feels better than frowning.Wholesaling is challenging, competitive.

I since have transitioned into mobile homes (no competition and different market) and I'm really leaning towards more rural town investing.

Besides charging a competitive market rent and providing a safe & clean rental there's not much you can do.

Depends on the market but there is enough pie to go around even in competitive markets where good deals are hard to find.

Realty Shares  Nav Athwal president very competitive on rates and terms2.