REI Strategy advise - how to best invest 6-figure sales proceeds to meet my goals

[Chandler Johnson]

Hi all, 

I am looking for advice on how to best allocate a 6-figure amount of proceeds from an upcoming sell and specifically what REI strategy will help me get to my goals the quickest. My goals are very clear to me - in the short/mid term, to be able to quit my job and pursue real estate full time. I am happy to generate active income initially, and would eventually like to work towards converting that into passive income in the mid/long term. Most importantly, I need to be able to cover my monthly expenses, which are unfortunately high due to a high primary mortgage that I'm working on paying down.

I currently have 3 doors all as LTRs, but I don't see how continuing with that strategy would generate nearly enough cash flow quick enough any time soon to cover my expenses and replace my W2 income. I am considering the strategies below and actively trying to learn more. I am not currently sure which strategy will get me to my goal fastest, I believe this is a great opportunity to step a lot closer to my goal and so I want to get it right! I welcome and appreciate any/all perspectives on this. Thanks everyone!

-flips (to preserve capital and generate chunks of active income)

-BRRR (this would preserve capital, but I question whether the properties would generate much cash flow after refi)

- Mid size MF, 8 unit range perhaps (This would exhaust my capital. How much cash flow would it realistically generate?)

- Short term rentals (I question how much income this can make in this day and age, with 25% going to a property mgr.)

-Alternatively, using all/some of the capital to substantially pay down my primary mortgage and continuing to aggressively pay it down such that the living expenses I need to cover are ~50% less once paid off