My first post and my first big real estate decision

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I am 37 and I am from Miami, FL. I am really unhappy at my job, I am trying to figure out the fastest escape route, I am an aspiring real estate investor and I am leaning towards investing in short term rentals. My question boils down to either fixing a property and adding two short term rental opportunities for long term growth and passive income or going arbritage and move towards creating as much capital as possible to quit my job ASAP and invest in my own real estate and carve my own path. I’ve thought a lot about both approaches but the property I am thinking of fixing up is in the family and is technically not mine yet and aside from needing upgrades it has other problems associated with it.

I am currently living in the property I've made some upgrades to the kitchen, bathroom, exterior and interior paint and I’m paying $500 rent that goes towards taxes. It’s a duplex with a combined 3,200 SQ FT. and sufficient backyard space. Right now we have one long term rental on one side and me on the other. The duplex has one maybe two illegal additions. It needs new windows, new roof and new floors. I'd like to mention that if I make the upgrades aside from the two halves of the duplex, I have the space to close off the living room area on my side, which is one of the additions and make it into a short term rental with it's own parking and walkway along with sufficient enough space in the back yard to make a small in-law quarters/tiny home as well with it's secured fence, parking and walkway.

My question is: Do I take the risk, invest in the duplex I will own someday with my hard earned liquid cash, expand and create the two short rentals on the property? or do I go full arbritage create as much capital as I can and start investing in my own real estate and escape from my job as soon as possible?

Thank you to you all in advance!

Joel G.