Have 300k to 400k to invest

[Asif Islam]

Hi All,

I am somewhat knowledgeable with real estate as I listen to the bigger pockets podcast, I have read The book on rental property investing by Brandon Turner, and I have watched countless number of videos on real estate investing.

My parents are selling their primary residence and are looking to net $300k-$400k after fees and everything.

What do you all think is the best approach to set up the foundation for a real estate business for my parents and I? I am willing to be a hands on investor and be involved in anything I need to be apart of.

We currently live in the metro Atlanta area. 

I am looking to purchase a primary residence for my parents with their money, and put about 3-5% down (or should I put 20%?) and use the rest of the funds to purchase a primary residence for myself again 3-5% and I would be renting out rooms while living there. Lastly, whatever funds are left I am looking to put money down on either investment properties (25%) down or BRRRR properties.

My parents would live at their primary residence half the year and other half the year back in our home country, so I am thinking I can Airbnb their primary residence. 

I have lived in downtown Atlanta myself for 8 years and am familiar with the area. I am interested in investing in Pittsburg, Sylvia Hill, and West end areas, however I am open to anything. Single family or multi family   is what I am looking for, maybe a condo for my parents if it makes sense!

Any advice is appreciated!