Especially dense populated areas with heavy competition.

They actually had very competitive rates too. 

The cap rate seems good for the area, however I'm not quite familiar with evaluating competitive cap rates for Long Island.

The downside is that your offer may be less competitive than another buyer.I made an offer on a 4-plex on Monday and went through the listing agent even though I had contact information on seller.  

@Brandon Ingegneri, from strictly an insurance perspective, it is much easier for me to find competitive insurance options for a landlord who manages for himself and others.   

I'm looking for references for a private lender in Flower Mound, Texas. Has anyone had any dealings with him? 

I have access to single units available that are off market with no competition. 

It's amazing how open & friendly the REI community has been, lets just say it's a LITTLE different from the competitive environment I've been used to for the past 23 years as a small business owner!

Condos can be a good property to start on because of ease in rehab, but like all real estate in Denver it is very competitive and typically a lower price point that makes it a bit more challenging.

The problem with MLS listed properties (REO's, short sales) is that essentially everyone has access to them so competition is fierce.