Newbie in Austin, TX with $125k to invest. Halp!

[Aj Ulloa]

Hello, BP legends! I'm AJ and new to real estate investing. Would love to pick your brains and get some guidance. I own a home in Austin, but looking to start investing. I'm currently looking for a multi-family to house hack with an FHA loan and will rent my current home out, so I feel good about this first step.

Once I move into my multi-family, I want to either BRRRR or Fix/Flip another property soon after. I have $125k to invest for this venture.

Dilemma: If I look for a property in Austin, I'd have to take on a partner or use hard money bc properties are expensive in Austin (median home price ~$550k ish?). I'd use my $125k + hard money (home purchase and renovations) OR use my $125k + Joint Venture partner (home purchase and renovations). Another option is to invest in other markets where I can purchase/renovate a home for $125-$150k on my own. But being that's it my first BRRRR or Fix/Flip, I'm not sure I should be investing out of town.

Thanks for the knowledge bombs in advance.