i live in long island, new york and it is notoriously expensive, even the cheapest of areas could still run around 160,000. My question is how would i go about financing either a flip or buy and hold in this market as an inexperienced 21yr old who has little chance of getting a loan from a bank or private lendor?

Either invest elsewhere where properties are much less expensive or partner with someone and do a 50/50 deal where each party owns half of the property. It's better to have half of something than nothing.