Deal dilemma: Advice would be much appreciated

[Olamide Aki]

Hi all,

We are looking to purchase our next investment property in Austin. A few details on the deal: 

+ We are looking for 4bed 2 bath homes in north Austin close enough to the tech hub
+ We live outside the US and the best interest rate we have gotten is 8% after engaging with 20+ banks
+ With 20% down, 8% rate and really high property taxes, all deals we have analyzed have negative cashflows of over 700 dollars per month

+ We have considered involved strategies like str, mtr and rent by the room but might be tricky to execute as we are not present in Austin

+ We really want to invest in Austin as we strongly believe in the appreciation potential. However, does it make sense to absorb such high negative cashflow? The last piece of context is my husband and I both having high paying jobs and can well afford the negative cashflow but we are not sure whether investing this way makes financial sense. 

Thank you so much.