@Alex Craig  unfortunately the cycle in these price point homes is just a rinse repeat cycle.. burnt out landlord syndrome.. local wholesaler investor snags them from out of area buyer tired of losing money.the chances are greater than 99% that htis person will never make a dime first 3 months his cash loss's will equal 3 to 4 years of cash flow so he will never catch up... and now he is stuck.. property as it sits is probably not worth more than 15k or so to a local wholesaler / low end turn key buyer... sad but true.And its why I always preach on BP buy the BEST you can buy not the cheapest.. the cheapest in the midwest markets is only appropriate for locals that own lots of these and do it for a living.. these are simply not appropriate for out of area passive investors they get killed financially .

Although my company is not based TX, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S. 

I looked at a duplex the needs about $15,000 in updates. The owner is asking $72,000.
I offered $60,000. Even at $72,000 it cash flowed. My question is should I have payed the $72,000 and but additional $15,000 in to...

Although my company is located in CA and IL, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.Best of luck and continued success.

but a lot goes into analyzing a deal, including: $/SF, Average Days on Market in the area, how easy or difficult it is to get permits in the area, how long the flip would take, comps/ARV, Rehab, Rental Rates, how the area is trending, holding/carrying/hard money costs, closing/commission costs etc.If you can analyze the deal, you can then negotiate the deal with sellers, buyers, and lenders.

Please define what you mean by; "too crowded" as in would be buyers vs opportunities? 

The most basic method would be to offer 70% of the ARV minus repair costs.

Real Estate contrary to all this hype is NOT easy if you do not have the basic tools to transact business..

Takes some time for sure, and if you're going to door knock than it takes a certain amount of chutzpah too,  but takes very little money and if you get someone motivated to sell (with equity)...you'll find a buyer for the property.

We are both buyers and private lenders on lower $ ARV  SFR properties throughout the U.S.Best of luck and continued success.