Newbie from DFW, what REI strategy would you pursue if me?

[Steven Clements]

Hello,

My wife and I are are inexperienced real estate investors and are not particularly handy, but we have watch 100's of hours of HGTV so we probably know everything we need to know to invest in real estate, right? I'm kidding we know we have a lot to learn. We are in our 30's and ready to invest in real estate as everything else financially is going in the right direction. 

The first question we are trying to answer is what strategy is right for us and I'd love it if anybody has any input that might help. We have capital, great credit, but not a lot of time as we both have demanding jobs and we have a small child. 

My goal is to replace one of our incomes within five years through real estate cash flow. Based on the limited time we have I feel multiple SFR's where we use a property manager would require the least amount of ongoing effort while Multi-Family's would provide the best cashflow? As for the rehab work that would be required, I'd just use Angie's list or craigslist and use J.Scott's book as a check for reasonableness on fees.

I'm not working with an agent or anyone at this point? Thoughts on this or an agent in DFW you would recommend?

Thanks for reading,

Steven