Where should I begin?!

[Augustin Tommy Jr.]

Hey BP Forum, I have a question that I’m having a tough time answering and figured I’d ask you wonderful people so I could get out of my own way. So I’ve currently live in a hot market (Austin, TX) and have been trying to get started investing, mainly looking at out of state properties (In Augusta, GA) that I could buy and hold. Mainly trying to do the BRRRR strategy in that market to take full advantage of the limited funds I have. However! Life (and my wife and I) had different plans and decided to bless us with the opportunity of having our first child (yay!). I’m currently renting where I stay so on to my question. Should I remain steadfast using my limited funds to invest out of state to purchase a cash flowing property? Or should I be trying to use the funds I have to either house hack a small multifamily property in my market or 203k live in flip a property to actually own a property for that transition? I‘m mainly concerned about how the debt to income ratio and obtaining loans for the primary residence may be more difficult to obtain if I begin with the investment properties first.