I am sure other investors can point you to those areas, but driving north through Jersey leaving NYC a few weeks ago I saw many areas that looked like they could be in a reasonable range not that far away.  

Originally posted by @Jordan Solomon:I'm certainly not an expert on this subject, but apparently it's a very emphatic "no."

These three episodes might be relevant to your situation:BP Podcast 023: Flipping While Working a Job, Partnerships, and Military Investing with James VermillionBP Podcast 025: Four Newbies and Their Very First Real Estate Success StoriesBP Podcast 074: Buying My First Investment Property- A Newbie Podcast with Jordan, Jacob and Jeromie

I currently purchase 25-30 rehab projects and 10-15 wholesale deals a year in the State of New Jersey.

My name is Tony Jordan and I’m glad to finally become a member of the BP community.

I recently have been asked about purchasing 13 acres of property with 2 homes on it in New Jersey.

I am also, local (Jersey girl).

I was born and raised in Jersey City, but live out in New Mexico and invest in Oklahoma haha...so I understand the struggle when it comes to deciding where to invest.

How To Get a New Jersey Real Estate LicenseThere's also an article on advantages to having a license.Just one tip and take this advice for what it's worth but this business requires you to be a self-starter.  

@Lorenzo Gonzales I bought my first investment property, a cape cod house in Dumont, New Jersey (which I still own and which is still cranking out rental income every month) back in 1989.