First Time Real Estate Investor Unsure of Which Market to Choose

[Jeff Pantig]

Hello and greetings from San Ramon, CA!

My name is Jeff and this is my first post in Bigger Pockets. I work for my family exporting business in the Bay Area and I feel like REI is the ultimate way for passive income/wealth. I'm currently looking to buy and hold properties in Memphis, TN (signed on with someone already) trying to find a property that is turnkey or needs a little bit of renovating. I'm excited to put my first offer on the property, however, I'm not sure if I'm looking in the correct market. I'm looking for something that will cash flow for my first property @ $200/month, but it's a little bit difficult to do that at a +6-7% CoC return.

Am I in the right market? Does anybody have suggestions on what other markets are best for cash flow? Can I do REI in my own backyard in the Bay Area? How does the Tracy, Stockton, and Brentwood area sound?

Also are there Bay Area (Particularly East Bay, Tri-Valley Area) meet-ups? I would love to go to one and learn from someone who is experienced and meet new people. 

I know this post is all over the place and this is exactly how I feel and am getting overwhelmed. Haha