Foreigner looking for suggestion

[Peter Sik]

I have been reading this forum since last  year, very informative web site. 

I wanted to move to USA with my family and my goal is have positive cash flow. There are 4 areas that I have friends and family members living there. So, I prefer to invest and live close to them.  San Jose, Los Angeles, Alabama, Texas Forth Worth.  My opinion for those areas as follow:

San Jose: 2M entry level. Too low cap rate and too rich for me

Los Angeles: Brought two SFH during 2010. Now the cap rate is low, plus i want to separate my investment. Also traffic is bad there. But I still open in this area.

Texas: Seems like the most reasonable place for me. Only down side is high insurance rate and tax rate.

Alabama: Been there once, airport is empty. Economy is very slow there.

I have 500k cash for investment and also 400k cash for purchase my own house of living. If you are in my situation, what do you choose on area of investment or wait for the down turn of the property market. In fact, now is in bad economy shape. Almost 1/2 of properties sold are from foreclosure. I believe the raise of property price is driven by decrease of money value.  That's why the world property price is raising. Question and suggestion are welcome. thank you

[Brad Sanford]

Been to Alabama once. A slow day at the airport, so that related to a "very slow economy" in the entire state?  Which airport?