I have $250K to invest..... This or That?

[Shaun S.]

I am currently in the military for 17 years, have 2 elementary school aged kids and I have been dabbling in RE investing for over 15 years and still have a lot to learn, but have a 'this or that' question for you guys.  Today is my first day on BP and here is my situation:

-Have 250K in bank ready to invest from previous real estate transactions (house hacking mostly)

-I own a duplex in San Diego w mortgage and insurance: $2,850 and dual rental incomes are: $3550 with cash flow of: $700.  Equity: $300K

-I currently live in a 2/1 condo a block from the beach with $40K in equity worth $505K

-I plan to sell my condo (mortgage: $2,600 + $350 HOA = $2,950) I currently live in to cash in on $40K and release my VA loan (military) so ...…………….

SHOULD I

1 - Use my 250K for a down payment to buy a state of the art /new home 3/3/2 larger property; kitchen island, smart house, 2 car garage and extremely large rooftop deck, a block from the beach with a HOT HOT market for a house for $875K that will significantly increase in cost as they are building new restaurants and breweries in the area making it extremely desirable and pay 4K monthly (already pre-approved)

or

2 - Buy a 2-4 unit plex somewhere inland that is not as nice as the market in San Diego is high for 2-4 units and live in one unit and rent the others.

Please advise as I want to have the most cash flow, but also want to have a bigger place for my 2 kids that is near the beach that is atleast 3 bedroom.

Is there anything else I should be looking at for now?

Thanks so much guys,

Shaun