First things first: figure out what you are looking for. Do you intend on relocating indefinitely, are you looking for a vacation home or strictly investing?
As well as befriending locals to get inside knowledge, the most common way of finding property in Nicaragua is online. Here are a few websites that can help you find what you are looking for:
Prior to buying a property it is extremely important that you hire a reputable estate agent and lawyer, preferably bilingual, who will best represent your interests.