A good way to find deals (as a little guy) in an expensive and highly competitive market, is to look at the properties that have been sitting on the market the longest.

@Alex BrownMaking an offer on a house that gets accepted can be challenging in a competitive market when demand for homes outweighs supply.Getting preapproved for a mortgage can help to strengthen your offer and signal to sellers that you're serious about buying.A trusted real estate agent can draft and submit your offer on your behalf and negotiate the details with the seller's agent.When making an offer on a home, it's important to keep your budget firmly in sight to avoid paying more for a house than you can realistically afford.All the best!

The larger challenge in my opinion is going to be finding a 4-plex in metro-ATL that will not be sold from under you because of the speed and reduced contingencies your competition is going to present for anything on MLS.

Get away from NYC and it's less competitive. 

They did it because the market was super competitive then and it was a way for them to make a cash offer with no contingencies. 

While waiting for this home to go into extended period, knowing there will probably be high investor competition, this other home came along and my daughter can move into it.

To stay competitive you must leverage technology as well.  

In terms of stable and appreciating markets of Connecticut, they are much more competitive and unless you build out some solid direct marketing, I feel they are overpriced currently.

I would be cautious at these levels and look for deals or at least have some buffer in what you think you can pull in based on occupancy and current nightly rates.A unique property may give you a leg up over competition. 

Moreover I think this would be beneficial for new and small time investors facing increasing competition with Institutional investors buying in large numbers.