I live in an expensive market (Long Island), where breaking even or cash flowing on a property isn’t really possible right away.

Best bet is to try local and credit unions, possibly may have some programs for better rates.

Just saw the news , over 1000 structures destroyed and possibly 28,000 in danger . 

I would recommend starting in your backyard and hone your skills if its possible, I know some markets have an extreme HCOL which may make it unfavorable in your case.

House hacking could possibly at least cut that painful expense so not saying you shouldn't do but really watch your numbers.

Originally posted by @Joseph Binkowski:Hey BP Community -I was sitting-in on an investor presentation for a syndication of an attractive 320-unit Class B MF development in a fast-growing market, and then I realized... it was a 506c project for accredited investors only [which I am not.. yet:)]So then I began thinking...How can I possibly get involved?

Focusing on connecting with as many people as possible and looking at plenty of deals. 

Possibly.

I don't want to rent it out as it seems like an electrical liability - and I'm not sure if renting it to others would be legally possible seems how we don't own the land.

Quote from @Micah Huffman: I am considering relocating to Nashville for a job promotion that would be a 20% increase in pay possibly more.