Many of these properties become REO and when they re-hit the market you will have a shot at them but you will also be in competitive bidding wars on the good ones. 

Others have said it's fairly competitive.

Alex.Take it from me that there is a lot of competition from investors right now in buying listed properties in the twin cities.  

In other words, this is a good problem to have and likely not one you will run into in this competitive market (unless your offers are too high which means you have a whole different kind of problem - a bad problem so go learn your numbers better).

Prices may have gone down during the financial crisis, but the market was still hot and competitive.

Airbnb competition is quite stiff in Denver, which keeps the rent down.Our current strategy is to use the Airbnb platform to find roommates staying 30+ days, which means we don't have the hassles of licensing and paying the STR tax.  

Brians inventory in CA can and will go retail so he can have a organized sale campaign to maximize.I am going through this right now personally with the last 11 rentals ( new construction I bought for Go zone in MS)  what we forget even though the homes were bought brand new 10 years ago.. they have now been in service for 10 years... so they need a retail rehab.. usually 5 to 10k to get them up to what your competition is selling homes for ( especially in this area).then of course its near impossible to sell a home with a renter in it.. so you need to boot the renter now you have no cash flow.. you sink 5 to 10 k into the home you have negative cash flow say 1k per month for 6 months  add on sales commish and closing costs of another 6 to 7k and there you go. you need 20 to 25k in CASH to exit.. and if your in a market were the properties have not really appreciated.. then your just giving back your positive cash flow you made for 10 years..

I found BP about 19 months ago and I still am just learning while I recover from a heavy medical experience.in fact, the reason I found BP was because I was on-leave from work and knowing I would have to do something that was more flexible and was made up of something I would enjoy doing.  

The competition is certainly stiff in this area of town (really - it's competitive throughout Kent County as a whole!

There is a lot of competition, However, it can be done and you will need to get pretty creative.