You would probably find a wide range, from lean, nearly-shredded serious competitors to "my boyfriend thinks I'm hot so I put on this suit and came out" competitors who look like even the pink dumbbells would be too much for them.
At least, such have been my observations.
The Fame show is likely to be huge, though. You might want to start somewhere smaller, particularly since the Figure class always seems to be overflowing anyway.
In any case, it is not so much about the numbers. No one is going to be standing there with the calipers. "Ah! 8% BF. You're in. 10%. You're out." It is about your build, your muscle mass and maturity, your symmetry. And how you carry it on your frame, and how you prepare. You may look tight at a particular point, while your friend may need to drop more pounds -- or look just as tight even with a bit more fat hidden somewhere.
Not to mention, different federations and groups of judges reward different looks, in figure at any rate. Some like them so shredded they're pretty much bodybuilders in heels, while others penalize excess "cuts" as not looking femmy enough.
No offence, but why don't you listen to everyone who says "go to some shows and see"? Or "post some pictures and get opinions"? There are lots of other shows coming up in Ontario just now, and I think some links have been posted for you.
I mean, there's nothing to stop you from just doing it, but even to jump into it for shits and giggles is going to cost you a fair bit of cash.
