New Investor in N. Austin and surrounding areas

[Bryan Petrinec]

Looking for first property in the N. Austin area for a buy & hold rental.  Been doing research and reading/pod casting BP and I am not finding deals that "work".  I am watching properties come up and sell and from what I can see from my evaluation is that they are not even break-even.  What am I missing?  I am all for appreciation and realize that is the current market we are in, but I want something that is cash flow positive.  Is everyone paying cash.  Are there opportunities to use bank mortgages?  

I want to use my current cash to get into 2-3 properties vs. pay cash for a single unit.  I would appreciate any guidance to get in.  I am ready to get in for the right deal.  Am I being too picky as a new investor?