Trying to buy a primary residence and investment property

[Jim Piety]

I am looking for some help to make a decision on my next purchase. I live in the Austin suburbs but in July, I will have to begin going to the office again. Rather than suffer through insufferable traffic/commute times, I'm considering buying a home closer to the city. 

With the appreciation in Austin, that seems like a positive decision. What could go wrong?

However, I also want to invest in cash flowing properties and don't want to dump all of my cash into one appreciating property. So the trick seems to be finding a property that I can afford AND leaves me enough cash to also invest into a second property.

My question is would you approach this differently? Am I thinking about this in the right way or is there something that I am missing?

Thanks!

[Jordan Moorhead]

@Jim Piety general idea is great! Where do you live now? Finding cashflow close to downtown is hard. I've been successful in East Austin by doing larger rehabs on properties. Also what type of cashflow are you looking for? I'm ok with $100 per door roughly.