Would greatly appreciate some input from the BP community on this. I am currently renting at an apartment and am looking to purchase my first investment property. I would really like to stop burning money as soon as possible and instead pay into the equity of a property of my own. However, I am at a loss as to which path would be more ideal, from an investors perspective. 
I understand that owning a house to live in may be considered a liability. In which case, how should I go about obtaining a primary residence without it being a liability? I would ideally prefer to house hack; however, there are essentially zero multi's in my area. Therefore, I have come across two options: 

1. Buy a primary residence as an investment (below market value, rehab to add value, move in and build monthly equity for year or two as OO, meanwhile look for investment properties from that foundation, rent out property when I move to another).

2. Buy investment property while continuing to rent, then rehab & rent out property. I feel that in this case, renting would be a greater liability than actually purchasing a primary residence, even at retail prices. 

To add another spin, if I no longer wished to stay in the area and decided to move to another city in a year or so, how would this affect me in the long term should I proceed with one of the options above?

I am learning so much from BP and am constantly amazed at the generosity of this community! I am eager to pull the trigger and would greatly appreciate any advice. 

Thank guys!