First time home buyer looking for multi-family deal in NYC

[Mauricio A.]

So i'm looking to getting my feet wet in the real estate ownership world and making my first deal by purchasing a multi-family in NYC (Bronx). The most difficult obstacle I see is that the market is way overpriced and competitive here and everything seems priced beyond my budget threshold (400-500k). I also recognize that anything less than a 3 unit multi-family seemingly will not generate any cashflow and a 3 unit is currently going for no less than 600k in the areas where I would like to purchase. 

Any advice as to what to do in this market and how to achieve my goals under these conditions would be greatly appreciated!

[Mauricio A.]

Agreed. I have not found a decent price entry point for a rehab. Will keep looking. I am indeed looking into house hacking a multi-family. Thanks for your feedback! @Nicholas Weckstein