Newbie Investor: What would you do with $100k in the Houston area?

[Arun Balakrishnan]

Hello all:

New to this site, which looks about 100x more organized and active than your typical "investing" forum.

I am located in the Houston area and looking for some suggestions on where to invest. I've bought and sold personal homes, but new to property as an investment.

Here are my parameters:

$100k cash to invest into CRE.
Monthly cash flow I can allocate to this investment: $3000-$4000
Buy power: Excellent credit, and minimal obligations currently (no mortgage as of right now)

Targets: Would entertain retail space, medical office space, or multi-family.

Willing to: Make upgrades and improvements to the property (family has access to trades/contractors), and I'm willing to self-manage as long as it's in Houston area.

Goals: Positive monthly cash flow >$500/month, an investment/location that will appreciate over time, already leased would be a plus.

So with the above parameters what would you suggest? This would be my first foray into investment property. I'm young and savvy and willing to put work into making a smart investment.

Thoughts? I look forward to your input.

Arun