From Long Island, NY. Have over 500k saved up. Where to start!

[Jason R.]

Hi guys how's it going.

I'm from Long Island, about half an hour from NYC, and I want to start investing in real estate. I have money to spend, at least a half a million, and my family's business has 3 properties that are used for our own business and renting to other tenants. 

I'm looking to invest in buy and hold apartment units or office buildings - I'm not really sure what niche, and I don't know where to start! I've taken a few real estate investing classes so I do understand the basics of theory, but I really don't understand how I actually get started on things like researching markets, analyzing deals, deciding what niche to start with.

I'm fortunate that I have a decent amount of capital to spend, but I need some practice guidance on how to put all the textbook theory to practical use. How would I decide whether I should buy apartments in Brooklyn, or Stamford CT, or Hoboken etc. How would I decide whether I should try my hand in office buildings, apartment buildings, single apartments in the city. What markets are hot? How can I analyze deals?

I know this question is a bit ironic, but are there any practical books that serve as a guide. I've read commercial real estate textbooks which are great but offer so practical guidance on how to put the theory to use.

Thank you.