Having just recently bought my first property, I know for myself what was holding me back was the fear that I would overpay, especially in this type of a market. I would get analysis paralysis and basically talk myself out of every property I looked at.
My advice to all first time investors, make sure you find an agent that is familiar with investment properties, tenants, leases, city codes, etc.
If you plan on using a property manager, please research as much as you can! A bad property manager will break you! If you find one you are comfortable with, I would use them as your agent. They know the ins and outs and they do not want to manage a bad property! They will give you the best advice possible!