NEWBIE!!!O. C., California Question: Condo, SFR, Multi~Unit???

[Daniel F. Harb]

Hello BP Community!

Question: I am looking to purchase a first property (again!), and I would love some input from the BiggerPockets Community. Love to hear from all! I live in Orange County, California, and am seeking to make a RE purchase over the next few months. I would love to "House Hack" for this first property, but I am afraid that it might be too far from my workplaces in Orange County. Condo, SFR, Multifamily, which way to go? Palm Springs, San Bernardino, Lake Elsinore area? Out of state? I had a 2+2 Condo in Rancho Santa Margarita years ago that I bought as a B of A foreclosure ($77,000.00!!!), same properties in RSM are around $375,000.00 now (Ugh!) I really don't want to spend that much right now for 900 square feet.

I work for a hospital, a free~standing Imaging center, and two Radiology registries. I have about $78,000.00 saved, am renting super~cheaply (I am a minimalist), and am saving about $3,500.00 monthly. 

Thank you in advance, everybody , for your expert thoughts and advice!

Excellent  investing to all. 

Daniel F. Harb

[Oz Stark]

Just an idea; There are houses that has a "mother in law" unit (Attached or Detached) where you can live and rent the main house. I am saying this based on your quote "I am a minimalist ". 

Lake Elsinore was one of the fastest growing cities in CA and will likely continue to grow with more business are moving in so LE might be a good idea. 

Msg me if you need help in LE.