How would you invest 100K?

[Amy Meza]

Hi! I'm completely new when it comes to real estate investing. My goal is to build wealth and generate income through buy and hold rental properties. I live in NYC, so cash-flowing deals aren't in my local area, and would be out of my price range in any case. The best idea for me seems to be turnkey properties out of state. It you had 100K to work with, what would your strategy be? Would you take out loans and invest in several small, lower-priced properties? Would you buy one or two properties with cash? How much would you keep in reserve for things vacancies, unexpected repairs and expenses? With that amount of money for my initial investments, would hoping to generate 30-40K a year within five to seven years be a reasonable goal? I have no idea what my expectations should be, I keep seeing that you should aim for $100 a month per door. If that is correct, I would need to acquire at least 30 properties within five to seven years, is that doable, or am I getting way ahead of myself? Any feedback or ideas would be great, thanks!