Buy lower priced property now or save for higher priced property?

[Shalen Takaaze]

Looking for advice as I'm starting my long-distance real estate journey. Since I am investing out-of-state, house-hacking and putting down the 3% downpayment is out of the question. My first option is to go for a lower priced investment property (approximately $100k) that needs minor cosmetic repairs while the other option is to raise private capital and save for a higher priced property ($300-400k) that I can also do cosmetic repairs to increase ARV. I am torn since the lower priced property would at least get my foot in the door and begin to build momentum while the higher priced property would be more desirable in location, condition, tenants, etc. I am more open to hard money lending at a lower price point and refinancing within 3-6 months, but at the $300-400k, I would rather go with a conventional loan and refinance at the 12 month mark. Any and all thoughts on this would be appreciated!