There is a few of us Lexington folk on here, its a competitive market, especially right now.

@Roy Leach Tulsa is a little easier to find properties then OKC, I do some in both metro areas, but I mainly deal more in the smaller communities throughout the state because there's a lot less competition for the deals and I'm mainly rehabbing and reselling. 

With the larger multis you hit a whole different set of competition which are also willing to take lower returns.

Location, market conditions, competition, niche, and so on all have an impact.

There is way too much competition to do that in this market; there are flippers here with 40 years experience that could not pull of those sort of numbers.

@Joel Avignone I agree with @Ben Biggs that the San Diego market is competitive.

It is a competitive market but I'm sure your other choices are too.

I was originally going to use heavy duty R value in joists.

The competition is warranted.

You are now their competition (and they yours).