Best option for my first REI as a flipper???

[Peter Filakouris]

Hey everyone,
Just starting out in a tough market in Long Island, New York and after reading tons of posts, listening to podcasts and getting my real estate license, I think i'm suffering from analysis paralysis on what my first investment should be as a home flipper. I know finding a niche is important in the REI world and id love to become a full time flipper, but I need some suggestions from all the great minds here on BP.

So my real question is, what kind of property should I be looking into for my first flip?? A short sale, A foreclosure or just a good ole fixer upper??? Long Island is flooded with short sales and foreclosures but I tend to hear some horror stories about both.

Im open to suggestions so tell me which one you all would look into first and why. Thanks in advance everyone!

-Peter Filakouris