I'll flip anywhere that I can reach within an hour - Including: Queens, BK, Nassau and Suffolk Counties.

I've watched  and put some money into CLT Before ( since '94 to 2000) and while the Queen City is a nice place to live with great flight connections, it's not on my radar to put anything into. 

Scenario 2:Buy a multifamily in an outer borough of NYC probably in the Bronx, Pelham or Queens..Pros- Be able to use an FHA loan to invest- Live on the property that I am refurbishing and investing in.Cons- Quintiple my commute time (45min to an hour on the train or subway depending on where I invest)- Most likely partner with someone on the investment rather than own it myself- Perhaps be buying into a saturated market.Concerns:Should I increase my commute by an hour just to get into Real Estate Investing? 

@Elizabeth ScottSearch for "quit my job starting wholesaling" you will get your answers about wholesaling

You also have the Hard Money loan route if you absolutely must move forward with the deal.If your family has money, why not use that monies to fix your credit and in turn you can pay them back when you run into a good deal or share profits on a good deal.Cash is king but like in the game of chess, credit represents a Queen which is the most powerful asset you can have in this game called RE.

The subway can get you to Time Square from basically anywhere in Manhattan, Brooklyn, Queens.

I live in Queens, NYC.

I am located in Queens and while I am in the Kingston area once every other month on the weekend, I would love to connect with those actively involved in that market from down here.

Maybe the queen of RE taxes @Natalie Kolodij will be kind enough to weigh in and provide some good advice. 

I live in Queens, NY.