It takes a lot more work, but is better than bidding against the competition on listed properties. 

If you are looking to do deals in that area I would suggest always measuring your deal and potential cash flow against those apartment complexes, they'll be your competition.

You need to determine if your priced too high or if the competition is offering something more or something nicer.

We are considering selling a home in California which now seems to be a very competitive market.

Seattle is extremely competitive and it’s virtually impossible to find market deals with positive cash flow.

As a new investor the competition here is too fierce and too expensive.

In my time analysing deals and making offers, Greenville is a very hot and competitive market.

Is it in-line with your competition?

However, the competition for properties in the better neighborhoods has grown quite fierce and it is all to easy for OOS investors to get duped into paying too much for a property and/or not getting what they were led to believe. 

Have you moved your focus to other, less competitive areas?