You need to select the low, go down to the element mode and hide them using the hide option in Edit Poly and then bake. More then likely your high poly isn't unwrapped (at least not in a legible way) so its coming out black. unless you meant high geometry is selected as the projection model, in that case it could be…
More then likely the UV pieces need to be flipped. If you're using 3dsmax go into the UVEditor window, select face mode, click Select > Select Inverted Faces. Flip anything it highlights. If you used the mirror tool it inverts your UV's and they always need to be flipped.
the target map slot is ambient color. thats what has worked for me before.... there are no lights in the scene. cage is good, ray distance good. i just rendered a top down view and lined it up with my normal map, and hand painted in some...it worked well for this model. but if anyone else comes up with ideas feel free.
make sure you have the ao in the right channel. I think you it's called ao refractive map or something... maybe it's reflective. At any rate if it's on the wrong channel it gives you black. the other thing that screws it up is lights. If you made a light turn it off. That's the only thing that comes to mind. Check that the…