Need investing advice

[Barbara Pinto]

I am in my mid 20s, I don’t own my own home. I have managed to save ~$200,000 plus my retirement accounts. What should I do with this money? I want to use it to generate more money. I don’t have children, or any debt. Should I use the money to just buy my first home ($370k in the area I want), or should I buy a duplex with (2) 2 bedrooms, and live in one side and rent out the other? Or maybe rent out both of the duplex units (can probably get $1200 a piece), and then just buy another house to live in? I was also considering buying a cabin in gatlinburg or Georgia and renting it on VRBO and Airbnb. As you can see, I am all over the place with ideas. I want to know what the smartest thing I can do with the money is, or what the best way to make it make more money is... I live in Florida, I am a quick learner, and I am open to any ideas. I don’t have to move anywhere right now, so I have time to consider the best option. The thing is I have been thinking of doing something for 2 years now, and in the meantime, the money just sits in my checking account making nothing.  Any advice would be greatly appreciated. I was also considering buying a house to flip, but not really sure where to start with that. If you could guide me to what you believe is the best way to invest this money, and have it generate more money, I can then, hopefully, narrow down my ideas, and research your suggestion. Thank you so much in advance. :) 

[Mark H. Porter]

I completely agree with Brandon on this one as that is how I started.  You max at a four unit for house hacking per the rules.  The thought being that you get an four unit, live in one for a year, and move on.

You have a lot of money and as I don’t know what a four unit would cost you I don’t know how much of your $200M will be needed but I think you’ll only need 5% down.  This means a 4-Plex owner-occupied costing $600M will require you to put $30M down.  Live there for a year and do it again.  All that time having any cash that may be needed for repairs amd such.

My only advice from here is never, ever, choose an apartment building based on what you would live in. Your savings shows you will have a HOA's far beyond what the normal renter desires. Good luck.