Strategy revaluation/Deployment of capital

[Evan D.]

Hey BP!

First off I want to say that this is the best forum I've ever read and interacted with. Though I'm new here, I can tell from all the forum posts I've read that this is a very welcoming, educational and civil forum. I can't say that about some of the other forums I've been on (non-REI related). They can get pretty heated at times.

I was hoping that I could get some direction or insight on how to proceed with REI. I've read several books and have a whole pile more to read. My initial plan was to buy and hold multi-family properties all taken care of by PM. The more I read the more unsure of my initial strategy though (analysis paralysis maybe?). My goal is passive income (netting $60k/year or more) so I can be work optional within 10 years. I sold some of my stocks so I have about $225k to invest.

I'm 28 and have been a nurse a bit over 4 years. I'm currently travel nursing which means I can potentially be moving to a new area of the country as often as every 3-4 months. I recently came to the conclusion that continuing to do this (at least until this pandemic cools down) is my best ROI of my time since I can net $1500-5k/week on average depending on the assignment. I would like to exit the healthcare industry through RE or at least work in it significantly less. I have no debt, no primary residence and typically rent the cheapest furnished room/apartment I can find when traveling for work. I would like to move back to my home state of Ohio in the next 12ish months. At that time I plan to use a FHA loan to house hack a duplex. I don't have interest in flipping or any of the more active strategies. I may get into BRRRR once I move back to Ohio but we will see. I'm interested mostly in passive REI. I understand that nothing is 100% passive with REI and I'll have to manage my PM if I go that route.

What do you suggest the best plan of attack is while I continue to move around over the next year? Turnkey? I know that has its own pros/cons as with anything. Or should I just keep my money in the bank until I move back to Ohio where I would plan to stay. I'm currently in Denver but the market is too expensive here (for me) to buy anything. I think it would be more wise to invest back in Ohio or another state with cheaper prices where my money would go farther. That introduces the whole out-of-state investing drawbacks. I know there is no right answer but I'm just trying to figure out what the best option is for my situation. I keep reading over and over that access to capital is a lot of real estate investors' biggest challenge so I just want to make sure I'm making the best use of what I have. Some of this money I have was left from my late father so I want to make sure I'm making the best moves I can. 

Thanks all in advance!

[Brandon Sturgill]

@Evan D. I think you answered your own question. Long-term buy-and-hold...multifamily. You'll be at your goal on time, just make the jump. If you are using a PM, go for a commercial loan on a mid-sized property. It will work.