Not Finding Deals, or not Looking Correctly? Examples Inside.

[Charles Montgomery]

I am looking at properties to buy. This will be my 1st investment, I have been looking for 3 weeks, spending countless hours trying to get a feel for what a good potential property would look like,

In every case I find a property, looking at recent sales in the area, the house is basically retail. I am looking at REO, Auctions, Short Sales, As-is and so on.

My goal is to rehab and flip the 1st 4 properties to generate more cash, before going buy/hold.

Here is an example. This house looked good http://bit.ly/1OxkhTw But looking at the recently sold properties in the neighborhood, I dont see how it is a good deal. This one looks better based on comps http://bit.ly/1RUVH5q, I guess.

Am I doing the right thing trying to find properties below retail as the book buy J Scott suggests?