It requires patience to find a good deal in my area then boldness to strike.  

It is infinitely preferable to strike a deal using cash for keys.Suppose that you find yourself in a fortunate situation where you’ve got no tenants.

Still, maybe a single or double is better than striking out while trying for a home run, especially in the beginning?

I am trying to strike a balance between due diligence and scaring people off with too much paperwork. 

Know your market, and know when to strike.  

Market technicians may argue the applicability on a failed cup/handle pattern on an index, but it's the symbolism that it conveys that strikes me.

Looking forward to reading these because I am now at 3 strikes - 3 offers for 3 different kinds of properties - none accepted.

The reason the properties and others like this strike an accord with me is I am an architect and utilizing my professional experience and connections, I know I can turn this into a rent ready building fairly easily.  

I know an agent that works the rest of Houston and deals with investors mostly, she can be of some help if you are able to narrow things down a bit (age,bed,bath,demographic,hoa, strike price, exit if any...etc)Best of luck and hope to see you in town

CoC, IRR and is the overall return worth my effort.I consider cap rate to determine approximate value and tweak my strike price based on this.