New REI seeking guidance from the wise and experienced

[Sheldon Vic]

Hello everyone!

I am 31 years old, currently in grad school with a family of 4 (including myself), and currently rent. I have 1 more year until i'm on my way to start my "so-called" career in what I truly do have a passion for (Sports medicine). In my free time, I dabble in trading stocks and do my best at educating myself on my new found desire of REI (via audiobooks, and blogs, etc).

Growing up, I was always foolish in terms of financial management, so I am fortunate to find out about BP! I am continuing to learn as much as I can, but I am hoping to get a little more direction from this post (as the amount of information I find is almost to a point of overload). 

Anyways, I am in the process of selling my grandparents home; and will split the profits with my uncle, which should leave me with roughly $130k (completely grateful for this) that I am looking to invest with (and would complete love to get out of this renting situation, and into our first home with!).

Currently I live in Hawaii, but once I graduate we are looking to move back to either CA or OR; depending on where our careers take us.

I would like to build some passive cash-flow and am open to out of state investing (lower cost, quicker gains/retuns?). I am looking for the ability to be able to spend more time with my family, build long-term wealth, and have a nice nest-egg for retirement. My wife and I are both veterans, so are entitled to VA home loans.

I've been learning about buy-and-hold rental properties (SFH, duplex, triplex, 4-plex, etc); fix-and-flips don't seem too appealing as I would have to be active within the process (which would be difficult with a w2 job); live-and-flips are another option that I would consider, but would the area we end up living (CA/OR), make it worth it (or could we find a decent place)? I've also been doing research on properties and came across Roofstock, which seems to be pretty convenient. My biggest fear is coming in with a loaded shotgun, knowing barely the surface of what I need to know, so I appreciate any and all input. I am looking to learn as much as I can before jumping off into the deep end. Thank you all, and I look forward to getting schooled! :)