So I am in a situation currently where I put a "strong" offer on a duplex that previously had an offer on it.I heard back from my buyers agent that the other offer was comparable and they are NOT giving me the ability to submit a higher offer but keeping my offer as a back-up.

Compare this to a property in which we bought vacant and did a complete interior and exterior rehab, but the tenant is qualified but not established. 

Check out www.Rentometer.com for comparable rents for your area, or www.hotpads.com

My partners are comparing for the best deal.  

I decided to start investing on income properties in Bakersfield California, due to the better cap rates and better roi compared to the Los Angeles area where i live.

@Wayne - How do the rates on a renovation loan compare to a conventional mortgage?

The odds of you going to court and losing so much that insurance won't cover the loss is probably comparable to being struck by lightning twice.Treat people honestly and fairly.

In my location the houses are relatively expensive compared to the rental rates.  

I think it depends what kind of personality you are compared to the authors writing style.  

@Jennifer Streamer  comparing Kelowna to Detroit or any big US city is kind of funny.But I do remember the gang shoot out at the big hotel on the water... crime in Kelowna is relegated to biker gangs like hells angles etc..