I've got to say, I find even Monopoly to be a terrible game. My strategy for the game can be summed up as: "buy the property if I can, otherwise pay rent if I have to". I almost never stray from that strategy, and even when I do, it's not like those exceptions make the game any more interesting.
If the other players will bid less than the sticker price, then it's a better strategy to decline the sticker price and pick the property up in the ensuing auction. Under some circumstances (e.g. all the other players are broke) you can pick it up for a song in this case.
For those who are fuzzy on the rules: http://richard_wilding.tripod.com/monorules.htm