Or would I be better to focus on finding deals for houses, even in the hot market?

This was in probate in 2010 and rented thereafter and is now for sale.The seller actually had a 4-point inspection done in 2011 that shows: HVAC and Compressor (2007), roof (1998), hot water heater (1990), and electrical wiring ROMAX throughout the house.I'm googling ROMAX as I'm not sure what that is.

But again, that's just one person's opinion.The Aksarben area is really hot, and there is a ton of redevelopment slated to take place around the 30th & Leavenworth corridor soon as well.The question is, what is your familiarity with the different neighborhoods in North O?

The property doesn't have baseboards but I am worried about the area where the floor meets the walls because it seems to be a "hot spot" judging by the darkened color of the tack strips and could potentially harbor some odors if they seaped into the seems.

I have also been getting all of my finances in order in preparation for my first deal.Austin is challenging due to the fact that it is a great rental market, but it is also a super hot seller's market...tough to get into SFH's at a price point that will cash flow. 

Give you the wherewithal to pursue and achieve your long-term goalsMany investors start off "too hot", and they either overdevelop their first property or they spend their money too fast - either of these behavior will stop you dead in your tracks, and you probably won't even be able to achieve your short-term goals - and you certainly won't have the resources to pursue your long-term goals.

Maybe it doesn't happen, maybe slumlords hold the neighborhood back, but if Bushwick & Bed Stuy NY and Skid row/The Mission in SF turned hot, I think west end could pull it off at 1/10 the scale ie most renovated houses being worth close to 100k in the next 2/3 years and rents at or above 1k a month, conservatively. 

Give you the wherewithal to pursue and achieve your long-term goalsMany investors start off "too hot", and they either overdevelop their first property or they spend their money too fast - either of these behavior will stop you dead in your tracks, and you probably won't even be able to achieve your short-term goals - and you certainly won't have the resources to pursue your long-term goals.

IF YOU HAVE TIME TO WAIT ON THE RIGHT OFFER OK AND YOU AND YOUR WIFE KNOW WHAT THE RIGHT OFFER IS BECAUSE HOUSTON AKA TEXAS IS HOT REAL ESTATE WISE!!!

I am still a newbie to real estate investing and I just moved to the US 4 years ago so I don't really know all the hot spots.