Hello from Chicago ! newbie with some exposure

[Vincent Phan]

Hi everyone,

My name is Vince from Chicagoland area. I was reading a book on rental property by Brandon Turner and was referred to this page. I'm VERY excited to go down this path as a real estate investor :)  I've been lurking for few weeks and decided to post an intro today. I look forward to learning from everyone here!

Background: First gig at 16 was a receptionist at local Century21. First gig out of college was a rental property consultant in downtown Chicago. Quickly realized selling/leasing real estate was not my thing. I left and started working at a label & packaging company and have been here ever since (last 6.5 years). Very happy in my current role and could be happier with few rental properties :)

Goal: Ultimately, my wife and I want to create wealth through real estate rental. Our goal is to buy 1st property by end of 2020. 

Experience: I manage my parent's 1 unit rental property the last 10 years. So I've seen a thing or two.

Right now, we're thinking about doing one of the options below. We're open to suggestions.

Option1: Remodel our kitchen and then sell our single family home for a profit. Then buy a 2-4 unit property in the area and live in one of the units. This seems to make the most sense. We can stay with our parents while we find a 2-4 unit property or do an contingency. 

Option2: Buy a 1 unit condo and rent it out. Keep the current house. 

What do you guys think for 1st time investor?