@Robert Fountain,dated and dated, clean and new paint smell are 2 different things...i would check all competition for 0.5-1 mile radius then check all features for houses sold in the same radius.you will then know:-paint color/combination to use (neutral beige or the ever popular graige/grayish tones)-appliances common or not/expected or not (all matchy matchy)-houses features/commonalitychange counter tops and fixturesclean/rejuvenate the cabinetscheck like crazy the mechanicals: those are the #2 money eating (#1 is bad tenant or vacant property)some here on BP have removed carpet completely and refinished wood under/switched to vinyl click wood like planksgood luck

You mean to tell me you want a very successful real estate investor to give you exact step-by-step instructions on how to be successful in an extremely competitive, multi-faceted field, and you don't don't want to pay for his or her time?

Like yours, my local market is hot and I'm growing increasingly frustrated with the MLS competition.  

My IRA collects a competitive interest rate, but his collects all the rental proceeds and captures the appreciation upon the sale.Thoughts?? 

Yes, from my calculations pre renovation cash on cash return based on a competitive offer I can give would be around 2-3%.

Some possible options could include the ability to close quickly (cash offer or hard money) or willingness to take over an asset in poor condition / occupancy.I would focus on getting really clear on the following: property type you are interested in, your financing (include repairs if part of your strategy) and location (broaden your search to include areas with less competition).Best of luck,John

People that have been in it for 4+ years will have more stability and can likely weather the storm, particularly if the newbies start pulling rentals off the market and the competition decreases.

Look at your competition and see how they are furnished.  

Like I said, it might be a ways off but eventually all this stuff will be codified so the sooner you get up to speed on it, the sooner you'll have a competitive advantage. 

On top of that, the competition is way less for homes, so you're seeing a lot of mountain homes going for well-under asking price.