BEST WAY TO INVEST $75,000???

[Lisa Gauff]

I've been looking for my first investment property(s) but after listening to various BP podcasts/blogs, I realize I need to hone in on a strategy.  My main goal is to generate cash flow and get as many properties as I can with the following:

I'd like to keep my cash outlay to $50-75,000.  I have a pre-approval for a Lo-Doc, non-owner occupied loan up to $500,000, 25% down, 6.25 interest, 30 years -- and my loan stipulates whatever property(s) I choose, the 30 day market rents have to cover the total payment (including any HOA).  

I live in Los Angeles (and have a real estate license). I've been looking online in various states.. but mainly close by in CA, NV, AZ (and Hawaii for short-term rentals). I work, so I can't spend a lot of time traveling to other states but am open to finding trusted partners.  Your thoughts on how to best maximize my $75,000 and get my Real Estate portfolio started??  Go for Multiplex? SFRs? Fix-n-flip? Turnkey? Notes? Combo of these? Thanks!