Single-family from afar or multi-family in-state?

[David C Heiling]

Hello, all! 

I'm a first-time real estate investor! Hoping to make some connections here. After watching my dad and uncle flip houses growing up, it's time for me to step up to the plate. I have about $75k in the bank. I make around $160k a year at my current job, but I dislike it. 

I currently live in Charlotte, NC. I've been using BiggerPockets' resources for a few months and I've found a property in Maine ($260k) that my wife and I love. The goal would be to use it as a short-term rental because of its location near the coast. I've run comps every which way to Sunday, and even with cutting in a property management company for 25% to run it from afar, considering the renovations and furnishing costs, we'd still be able to make a positive annual net yield and c-o-c at about 57% occupancy. 

That's the option we get excited about. There are some upfront costs, but nothing nuts. My head, however, thinks we should probably just look for a multi-family unit here in Charlotte, put the 5% down, live on one side, and rent the other, but it just doesn't hit the same. There are a few near Madison Park and another few in Elizabeth we could choose from. We could get some steady income, but there isn't much supply for multi-families in Charlotte at the moment.

For STRs, I have also looked extensively at Madison, WI (my hometown) and the Ozarks (wife's home state) as other potential opportunities for us. I would love to hear any opinions, advice, or suggestions about STRs vs. multi-family home hacking as a first-time investor. Thanks so much for reading, and have a great day!