What's my next step?

[Cody Anderson]

Hello everyone! I have just joined the bigger pockets community and I'm looking to start investing and building relationships with people in my area! My name is Cody Anderson I am 23 years old and I am from Portland Oregon. I have quite a bit of experience in renovating houses, but very little in the buying and selling process. I grew up doing work on houses, my Dad owns 5 duplexes and 6 single family homes. My work experience outside of renovation consists of framing and construction. When I start looking for houses to buy I would like to start doing most of the labor myself. The first house I bought my dad was my benefactor in the process. It took me 2 years of being constantly active in the market to find the house that I am in now. At first I was looking at MLS houses then we started looking into the county auctions. I did my research on how the auction and costs work. The house that we bought I did a walk through and noticed there was water damage from the roof all the way through the subfloor on the bottom floor of a two story house. We ended up buying it for $236,000 we only put in $15,000 a lot of time and labor into this house. Now almost 2 years later the house is worth "$335,000." Im going to take over the mortgage on the house and put it in my name. This way my dad will get his money back and we will have around $70,000 in equity. When this happens and I have money to invest where should I start? This will be my first purchase and I'm not sure if I want to get straight into flipping or start with a multi unit house. Another question is how should I purchase a property, should I just do a normal %10 down, FHA loan, or if I have enough do %20 down? Recently I have been listening to a lot of BiggerPockets podcasts and they have been very motivational and informative. Thank you guys for all the help and knowledge!