I am very new to investing and live in the SF Bay Area. Given the Outrageous price of property here Is finding an investment with a positive cashflow even realistic?
Well, with enough downpayment its even possible in the SF Bay area. :D
In your subject line you asked if its possible in ANY market, and the answer is absolutely. Now the areas that didn't see value apprecitations like CA are the place to find them. The Midwest and the great state of Texas still have excellent opportunities to cash flow on properties, even with 100% financing.
Ryan hit it on the head. You can find positive cashflow properties in any market. The only issue is, how much do you want to put down. If you're willing to look out of state, you'll definitely find properties that require less of a down.
I purchased properties 3 hours away and I have a PM taken care of them. Networking with a good Realtor can help a lot. My friend tells me I want to get at least a 10% Return on my money. That seems pretty hard.
In some markets there are little niche areas or neighborhoods that will cashflow. For example in Chicago, it is difficult to find a deal that cashflows on the northside or suburbs, but head south or even to NW Indiana, and you can pay retail and still cashflow.