Which bucket(s) do we fill and how much?

[Temple Raney]

Forgive the lengthy post!

I am a new member to BP and literally can't absorb all this information fast enough! I have a long history in real estate first being licensed in 2005, then went into financing, back to real estate all while owning my own hospitality business for over 12 years as a single mom of two, building it from the ground up. Even though I have had several years in real estate, it's never been for our own investing. Long story short, sold my home on 40 acres and business, made a nice profit, met an amazing man who is a contractor, got married, sold his property too and we moved to the high desert of Central Oregon near a very popular year round resort town. He is continuing his contracting business and I reactivated my brokers license here. We bought a house and paid cash for it, forced some value into by adding over 1800 square feet onto it with very little cost due to an addition that was already started prior, and updated the house built in the 80's. From the time we met, we did all the previous mentioned in just two years time, so we are definitely goal focused and not afraid to put our heads down and work! We are looking at what's next and want to absorb all the information we can to make the most educated decision on our moves. Although we both agree we need to start prepping and are excited to make our decisions, my husband is very religious about not leveraging our primary home for other investments. Taking profit out and reinvesting yes, but not leveraging.

My question as a new BP member is what you do with the following scenario? We are curious to hear what creative ways more seasoned investors than us would do as a first move looking back on some of your first deals?

Primary house purchased cash $965000

Spent $75,000 updating/remodeling

Other holding expenses to date: $12,600 (annual taxes and utilities for two years)

Home now appraised at $1,325,000.00

We are considering selling our primary house, finding another primary that we can live and flip again over two years. Anything under $1mil but trying to keep it around $700-$800K

Leaving approximately $300-600k to reinvest.

Investments we are considering or at first glance are appealing to us:

fix and flip

STR *we live in a year round resort town (this is appealing to me with my hospitality background)

Owner Contracts vs. renting? We carry a partial contract on my husbands property and it's worked nicely without the headache of renting. What is everyone's take on this? Seems like a no brainer, but I don't hear it talked about very often. We forced some equity into his house, sold it, carried a partial contract on it at 7% for 10 years. No headaches of property management and if they default we get the property back (after a foreclosure of course), but it's gone perfect so far.

How would a more seasoned investor divi up the allocated funds that we have to reinvest? Our ultimate end goal is to create passive income for retirement within 10 years. Do we pay cash for everything we can or take advantage of smaller down payments to be able to fill more buckets? Sooooo many paths to consider!