Buying an investment property in the Bay Area

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Hi there, 
I'm new to BiggerPockets, but quite enthusiastic! I'm 24 and working on my PhD, but I would LOVE to invest into a property while I'm in school... My parents have done the BRRR strategy for a couple of homes and I have watched and helped their work since a young age, so I'm not entirely new to the industry.

I have managed save some money for a down payment, but Bay Area markets are out of control! In most extreme cases, I'm seeing folks buy homes in the East Bay, only to sell them for 100,000 more 1 month later!!! I am interested in BRRR-ing here in the Bay Area while I'm in school, but funds are tight, I can only afford to make one purchase, and a mistake could be quite costly.. (Like buying when the market is high..) Does anyone have advice on where to find good deals in this current market? Perhaps I should wait? Perhaps I should find somewhere else to invest, but scared about my first property being remote.
Thanks all!