My advice if you want to get momentum going is to not worry so much about getting a grand slam first deal by cold calling for your first one but to find a solid deal that works.

one in the topic title, two at the end of your post.1. are str's at the root of housing issues?  

This same mortgage at 4.5% would be $507/month, a difference of just over $50.Make sure your underwriting is solid and conservative to account for any potential fluctuations in the interest rate and higher expenses.

If you want to start building a portfolio in Austin and have a long term strategy then house hacking a duplex or even picking up a SFH every 1-2 years could have solid returns, given historical data.  

I've went through a pre-approval from different lenders and it looks like I'm eligible to purchase up to 760-780k depending on the property that I buy.My gross income is about 119k / FICO 750-770 / paying student loan $560/moI'm looking for an advice to purchase a property in Bergen County, NJ - specifically leaning into Fort Lee & surrounding areas.I prefer to purchase a multifamily property but it looks like my purchasing power is a bit out of a reach in Fort Lee.I'm also starting to learn that Fort Lee is not a good rental investment area with my purchasing power.My main intention is to get somebody to live with me so it lowers my monthly payment, rather than creating a massive cash flow or return ATM.So I'm also open to buy a single family house that can have a solid layout for a room or basement rent.The fact of the matter is, I'm really not sure about the housing market in Bergen County and NJ in general so please give me a tip/info/advice!

If you have solid construction experience then it would be wise to get a fixer and either flip it, or fix it up and rent it.

Once you have a few solid buyers on your list and you know their criteria; then you begin searching for distressed, off-market properties.

A good agent, who is well versed in the industry should be able to connect you with a solid lender, pm, and contractor if needed. 

Buy a solid home and remember it is a rental (ie it may not be your style, but it is a good home in good condition or will be once renos are done). 

Electrical wiring, plumbing, and maybe a sewer/septic scope (see if you have lead pipes or any roots in your lines).