Get pre-qualified first and figure out what you can afford.

I do not have the cash to buy a property outright but can certainly afford a down payment.5.

Most people can afford to carry their properties for a while.

The real concern that I have is that if the Fed keeps printing money, which they currently are that this could even lead to hyperinflation, which then causes interest rates to skyrocket and therefore significantly decreasing demand (lot of people cannot afford the high down payments, etc + high interest rate make properties less attractive to investors that want to create a positive cash flow).

Does this affordably exist?

There is still some affordability close to the beach there as well.  

Properties are much more affordable when you're about an hour outside the city, and with all the public transportation like the LIRR and MTA, its feasible to do the commute if you work in the city like I do. 

IMO, that's because people who shouldn't have been granted mortgages, owned homes and lost them during the recession, and then moved to Class C apartments, which is what they could afford.

Lots of cool safe and affordable areas.

The plan is to build an affordable spec home and sell for a profit.