What would you do ?

[William Gonzalez]

Hi guys, this is my situation, I live in NYC, where is imposible to get a home in a livable place with less than $300,000. You can get one property in a less desirable area for about $200,000 in places where you and me wouldn't like to live. I have an income of about $40,000 dollars a year. I am interested in cash flow, rents here are around $1100-$1600 a month, i have found some properties that when you do the math it looks they cashflow but to tell you the truth i'm scared about the high prices. Your advice is highly appreciated.