New Investor Seeking Advice

[Justin Feliz]

Hello BP!

I am currently living rent free until the end of this year and I am seeking advice on a back up plan in case my original one doesn't unfold like I want it to. I work full time in NYC and with the help of others, I have been looking into buying a potential multi-family in the city or surrounding areas, where I can comfortably travel to and from work. In case I cannot find one that accommodates to my situation both in price and location in the given time, should I continue renting through short-term leases until I find that deal, or purchase a single family home or condo/co-op to secure a place to live for the next couple of years until I decide to either sell it or move and rent it out? 

Here's some information so you can further assess the situation:  I currently have 10k in my real estate fund and can save another 10k in the next 6 months. After estimating maintenance expenses, If I purchase the single family, condo, or co-op It'll take me 8-9 months to save another 10k, which then can be used for the next property. I am only 23 so I don't mind waiting the extra year to get my first income-producing property, but rather house hack if the deal presents itself.

Any advice if appreciated.