Options for investing 150k in real estate

[Miguel P. Pena]

I'm wondering what options do I have to invest 150k in. I live outside the DC area and have never owned a home. The housing market is about $500 for homes and $250 for condos. How do I create a real estate portfolio? Is it better to finance a home or a condo? Would a one unit apartment or condo be worth 40% down payment to finance and rent it out. Or would it be better to buy a home and rent out a room or basement in order to finance the property? New to Bigger Pockets and looking for suggesions