New Investor with $100k - Where would you start?

[Tanner Sortillo]

I work with investors in the Phoenix market and had a conversation with a new investor the other day. He has $100k liquid set aside for investing and asked my advice on where he should start. He's comfortable waiting until the new year (post-election) or move forward now for the right deal.

I thought it was a great question and worth opening a thread to get some other opinions and input. Knowing how the market is now and where it's trending;

Where would you start and what would your approach be if you were a new investor with $100k set aside for RE investing?