One property in Bay Area or multiple out of state?

[Tony Luce]

If you had approx. $150k to invest, would you put say, $20k down on approx. 7 properties out of state (I live in SF Bay Area where that is impossible to do), or would you put it all in for 20% downpayment on a triplex in the Bay Area in a B area, and live in one unit and rent the other two out, which would cover the cost of the mortgage.   Investing in option A would be more cashflow, and option B would be more long term investment. I know this is a vague question which needs more details, but was hoping to get a general opinion without having to drill down on exact numbers for both scenarios, as it is a bit hypothetical at the moment.  Thank you.