High Cost Markets

[Chris George]

To the BP community! - Looking for advise !!

I live in a very high cost market (New York City). I have some money saved up but not nearly enough to purchase anything worthwhile in this market. Cheaper markets could work, but then again I do not have the local knowledge and could not actively manage these investments out of state. 

I am wondering if any other BP members have had success starting out in super high cost markets with relatively low capital? Any advise on how to find deals that provide solid cash flow? Any advise?