New (Almost) Investor in Orlando, FL

[Frank Nabors]

Hello everyone,

I've been an avid reader and listener of BiggerPockets for probably 8 months now trying to soak in as much information as I can before making the plunge into real estate. I have a couple months of college left and I have about $20k so far I've been able to bank with the intention of investing. I am incredibly lucky to have parents who support my real estate goals (including allowing me to live at home to save as much as possible) but they themselves are not investors. They have, however, always promoted buying property over renting. 

They have started looking at industrial real estate as an investment because, 1) We use a rented shop as part of our business and 2) The monthly rent of this is getting almost to how much a mortgage on a building big enough for paying tenants would be. Personally for myself, I the residential is the way to start building my portfolio.

That being said, I have a few ideas I would love advice on. 

1) I initially was set on a multi-family property and house hacking that

-The biggest problem I see is there doesn't seem to be many of these types for sale in a price range that would allow me to start off at this 

2) Single family house hacking seems like a good option for this area

-Every so often, I see houses in good neighborhoods I am familiar in go for far less than what seems to be the market price. Even in renovation cases, I am confident in my skill-sets and can do any sort of renovations needed short of structural (which I would want to avoid anyway).

3) ????? I have looked at the BRRRR method as well but I still need to do more research into it.

I have found a local REI meetup I am going to attend to get advice for what works locally but I would love to hear what advice can be had.