After the first year of renting them, and if their values have risen enough, I'll "trade up" for something else with a higher cashflow (assuming I go for a higher downpayment.) 

On the other hand, these both are markets that are growing steadily so once you improve the property the equity is there.

Purchase price up to $300k.That way you will have a property that produces passive cash flow every month and appreciates slowly and steadily over time.

My goal is to find a cash-flow-positive rental property that I can manage while finishing my degree, setting the foundation for a real estate portfolio I plan to grow steadily over time.

Our supply of homes for sale on the MLS has been steadily increasing for several months, so I don't anticipate that price will start to increase until later in the winter.Right now is a great time to buy, with less competition it's a lot easier to get seller concessions to cover closing costs and interest rate buy downs.

Prices steadily raising, but rents have been slightly slower to follow.

However building built in 1922.....I have tried THREE (17,000), steadily can't find a carrier, Statefarm, Farmers, Amfam.  

To achieve this, the rental income must meet three requirements.Rents Must Outpace InflationInflation steadily erodes the purchasing power of a fixed amount of money.

Texas still has solid growth potential, particularly in cities like Austin and Dallas, but prices have risen, so returns may vary.

This could allow you to build equity steadily, reduce the immediate demands on your time, and potentially refinance in a few years to access funds for future investments.Alternative Approach: Small Multi-Family Property: If you're open to it, a small multi-family property (like a duplex or triplex) can combine elements of both strategies.