Investing in "officially" overvalued markets: Austin/San Antonio

[Richard Potts]

I'm new to property investing, but have been reading this gold mine of info at BP for a while now. I'm anxious to jump into a deal. 

I'm sure about my plan and niche: want to buy and hold small MFH (duplexes to start) by house hacking and self-managing up to about 16-20 units over the next couple years.  I have the appetite to start with something that needs *some* work, but I have to house my young family with me. So I can't take on something unlivable. 

But l am also really spooked living in Austin where we've been officially labeled the second most overvalued city in Texas by Forbes, et al.  I've held off for a couple years on purchasing, waiting for the market to turn...so I clearly have bad judgment there. 

Anybody here still killing it in Austin? Not concerned about buying near the peak? Advice for where to be looking for a first deal? 

Do I just need to get over myself? A kick in the pants? Work harder to find a discounted deal?