We are in a very competitive market, and if you have the ability to get into something before the summer that would be best. 

But it's more like a fractional/time-share ownership where you have a 1/328,000,000 interest.

Where I am based it is a more affluent area and I think people are not motivated enough to unload their properties at a discount.If you are a realtor then some of the contacts can turn into MLS listings but even this was difficult, very competitive and proved unfruitful.

Find a lender that answers your phone calls, that returns emails, that gives you a competitive rate with as little hassle as possible.  

With you being in the Metroplex I’m imagine cost to build could be cheaper with the amount of competition there.

If it is a competitive market, then yes you absolutely need one.

Prices are also high compared to surrounding areas, and investors from the Seattle area create a lot of buyer competition. 

The 5 year rate is the most competitive and many investors will do a 1031exchange at the 5 year mark.

I have a local lender that does 80% LTV, no seasoning, 30 year amortization, lends to LLCs, and at a competitive interest rate.

I'm in Los Angeles where it is extremely competitive to find deals and the profit per deal can be huge (over 100k).