I don't know if anyone has done this before but recently I discovered a way to keep tight dynamic clothes as smooth as possible (like stretch wear). Besides of using a high stretch resistance value, also set the fold resistance to 40 or 50. It will prevent the simulation from making unwanted foldings. I didn't find this in any tutorial, so if you want lycra or any other tight and elastic fabric, this is a solution.

Happy rendering,

Bopper.

-How can you improve things when you don't make mistakes?