Advice Needed: To Save or To Invest?

[Evan Arch]

Hi all. First post here. I am 24 years old living at parents home in CA. They are likely selling and moving to TX this year (they already have a home there). I am considering my options to begin investing in Real Estate, and wondering if it is a good idea? Here is what I am considering and would appreciate experienced investors' advice.

Option 1: House hack - purchase home in CA using 3.5% FHA Loan, rent rooms to a couple people, & live in it.

Option 2: Buy SFR investment in TX for 10-20% downpayment to rent out, and live with GF & her family here in CA.

Option 3: Save money, live with GF's family, & wait to purchase home when married in 1-2 years.

Anyone have experience or advise? I'd love to begin investing in real estate but I am a bit overwhelmed. I have been going over spreadsheets and not sure if options 1 & 2 will cash flow well, but I know I want to invest in real estate, even for appreciation. I am going to speak to a lender in CA this week to see what I will qualify for (most likely 400-500k based on who I have talked to). Any advise or insight is appreciated!

TLDR: Need to move out this year; what's my best strategy for building long term wealth with real estate? Save or invest?