Looking for the Max Bang for My Buck with my Inheritance

[Heather Lawler]

I was a real estate agent for about 3 years until I was offered a job that I couldn't resist working from 8:30-2pm everyday with two little boys at home and very well paid so I let my REL expire.  I am now about to inebriate some money (low six figures) and want to invest in real estate.  I live in central Iowa by my parents live outside of Bastrop Texas and have started investing in rental properties around them. 

Long story short I am trying to decide if I want to invest in Iowa or Texas.  The rental property and even the fix and flip market seems a lot better in Texas.  I am only 32 yrs old and want to keep growing and building my portfolio.  I love the idea of rental properties but I also am excited about the idea of Fix and Flip. 

Do you start out buying rental properties or Fix and Flip properties? I want to keep my ROI between 20 & 25% and get the max bang for my buck starting out so I can grow.

 Any suggestion or help would be greatly appreciated.  I know LOCATION LOCATION LOCATION but everything else involved and me being 1000 miles away would it work?