My clients there have done a really excellent job of producing cash-flowing properties, and there is a lot of growth in that area.

I know people are comfortable with losing money in the short term until rents and appreciation catch up, but as this is my first property, I don't necessarily want to buy something that produces neg cash flow.

There are some missing pieces of data needed to make an in depth analysis from where we sit and give you more sound advice, however I own/manage property in Tampa which is a highly producing market and:- With $300k to play with you can acquire a $1M property or more which does provide the best cash flow- On a $1M acquisition and $200k (or less down possible) you can achieve 10-30% CoC returns, likely 15% inclusive of management is possible.- Do not forget about appreciation, which is where the real wealth comes from. 

There are classes of income/dividend producing securities (i.e. 10%+ yields) that are doing really well, so extremely passive and extremely liquid. 

I have a business where I design products and have them mass produced in China.

A great cash flow, income producing property.

If they are buying properties that can not possibly produce positive cash flow without having to buy it and all they talk about is how much their properties have appreciated then yes.

Exactly you REALLY want in the game get a license and get paid to learn get on a top producer team. 

As you progress in real estate it will pay to have a producer who can more than earn their commission and put more in your pocket at the same time.  

On going maintenance and repairs, CAP Ex and high turn over costs can easily wipe out the lower cash flow that these properties produce because of their lower rents.