When to take action?

[Carrie Doan]

Hi there BP friends!  I have spent the last 6+ months learning everything there is to RE, read nearly every pertinent book, listened to webinars/podcasts, attended landlord classes, analyzed countless properties.  I thought it would be a good idea to search for a very local buy & hold small multifamily to start out; however, the deals I am looking for are few and far between and the ones that do come on the market are snatched up in a hot second.  I notice myself losing motivation lately and on a recent BP podcast Brandon Turner said something to the effect of 'just get something done' (speaking to newbies about that first deal).  

In light of all this, I'm wondering if I'm overanalyzing or waiting around for something that may not come?  Do I branch out to other neighborhoods or wait for this specific property to (maybe) come available?  Torn between when to take action and when to enlist patience.  Any thoughts/encouragement much appreciated....