Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

But from what I've observed (and I'm sure you've seen too), only a few new investors, who are more analytical in nature, do this.One of the issues that I've seen again and again is new investors putting together a "spreadsheet" based on their limited understanding, that produces inaccurate or misleading numbers.

In my case I sold off appreciated properties in a location I deemed as having limited future upside, and used the proceeds to eliminate all debt on the better located prime properties I wanted to keep long term.

You can probably just Google how many pre-licensing hours and education you need for your state in Georgia but I bet its around 20-30!

Relatively low cost means you aren’t betting the farm—really just your down payment.

And, they limit the type of people. 

@Shawn Tuma & @Chris KayVery difficult in today's market to cashflow putting 0% down:(5-10 years ago it was possible, but prices have increased faster than rents.Your best bet is to find a property that needs work, but will still pass a VA appraisal/inspection. 

However, with limited cash available, you’d need to ensure the return justifies the upfront expense.

I bet they wait until January or February so they don’t have to pay the tax on those gains for another year (which is why we may be seeing less selling this month than in a normal cycle).

You limit out at 10 of those loans so you can do that every year for a while but eventually you can't any longer.