Keep a close eye on the competition, and price your unit at or slightly below the other available units.Offering a 'free month' is ok.

While it is still profitable, I've been struggling with being at a disadvantage against competition and I often don't enjoy what I do. 

A good friend of mine started a property maintenance company in Brooklyn, NY (super competitive market) and grew his database by showing up to development sites, following investors and developers on social media, introducing himself to local property owners, posting his day to day on Instagram, and following up with his database regularly.I also agree with everything @David Peschio and @Drew Sygit suggested here!

National lenders will be more competitive on a cookie cutter deal.

I invest and work here (think Destin, 30A, Panama City Beach), and while it’s still competitive, the barrier to entry is a lot more manageable than Hawaii.

For a newer investor, the key is to price competitively, have your listing and marketing ready early, and be flexible with showings since schedules can get tricky.

It's a fantastic way to maximize leverage and move quickly.Seller financing is another one I've had success with, especially when the seller is more focused on a steady cash flow than a lump sum.To add a few more to the list, I've also seen local investors:Use a HELOC for the down payment on a hard money loan to get to 100% LTV.Structure joint ventures (JVs) where one partner brings the cash (often from a SDIRA) and the other finds and manages the deal.Cross-collateralize other properties to secure the new purchase with less (or no) cash down.Especially with how competitive things have been around DFW, creativity on the financing side is what makes all the difference.

There are a lot of things that need to address for a PM company between compliance with the state, local rent control in a lot of your area you'll be covering, a lot of competition that is in your area, marketing/ads, and so much more. 

That mix of disappointment, shame, and embarrassment really stuck with me—but I’m now channeling it into connecting with others so we can be smarter together when evaluating mentorships and influencer programs. 

Right now, sellers are motivated, competition is low, and creative financing conversations flow easier.Use this time to:Evaluate your deals and numbers.