Introductory post & a little guidance needed

[Daniel Dunn]

Good Morning all,

My name is Daniel & I am from Monroe, La -  In 2020 My wife and I had our son and through that I started to view things differently in the workplace as there has to be more to life than just working a 9-5 and read Rich Dad Poor Dad, which completely changed my life. (other notable books that are high on my list are Outwitting the Devil - Napoleon Hill & The Richest Man in Babylon - George Clason). In 2021 I purchased my first home and was able to house hack, the property came with a giant garage that was converted into a studio apartment that has one tenant, which their rent covers my mortgage note.

in the last 5 years I had two pieces of inherited land, one of which was ten acres in a flood zone, in a troubled area & another that is 1 acre on waterfront property. I sold the 10 acres within the last month and am not currently looking to utilize that money paired with savings to acquire a multifamily unit. There is one multifamily unit availed in my area and after crunching the numbers it does appear to be a good deal. The feedback I am looking for is more - If you were in this situation would you go for a multifamily first or develop the waterfront land? My idea regarding the waterfront land would be to put two small cabins on them and either rent them as a vacation spot or Airbnb.

I've been listening to bigger pockets podcast daily for almost two months and when meeting with a property manager was shocked at how much knowledge I was able to comprehend through that conversation. I am eager to learn and quite coachable so any knowledge is a blessing