I am newbie with rental income cash flow question

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I first want to thank everyone from newbies and experience people. I just joined while surfing around this site several times. To get my feet wet,
I am taking about 6 month to a year to study, research.
My goal is to buy property for rental income cash flow. I will live in my NY parents rents subsidized apartment.They moved out.

Question:I only have 16,000 in savings but really bad credit and 30,000 student loans. Bank reject me for small loau
what direction I should take? by property outside NY? too expensive for proty manager?

I will search through this site. I appreciate any pointers. I hope to one day be an influence to my friends in the real estate world.