Hi BP Community! I am a psychotherapist who wants to do less analyzing people and more analyzing deals. I love my work but I don't want to exchange hours for dollars forever and I currently have no retirement funds. I feel a lot of passion for real estate and in February I'll have saved $40K with good credit and good monthly income and ready to make my first move. My issue is that I live in the SF Bay Area (very expensive) and I'm here for the next three years until my daughter graduates high school. 

I'm wondering what you all think in terms of my first step. I am currently renting (for $3K a month - yikes!!!) so I'm thinking of buying a SFH in the spring for $650K with 5% down FHA loan. I would house hack but that's very difficult here because of the insane prices. I'm wondering, however, if that's my best first move, or if it makes more sense to keep renting and spend my $40K savings on a deposit for a triplex or quad in a place like Cincinnati where it's much more affordable and up-and-coming?

If I buy a home, it'll take me another year and a half to save to invest in a multi-family property, which is what I'm interested in. But if I buy the multi, I'm throwing out money on rent. I hear that short-term rentals are also a good option for cash flow, but that feels more intimidating to me for some reason. 

Anyway, that's my intro! Happy to be here, listening to the podcasts all the time, reading the books, trying to learn as much as I can and eager to build wealth and create a new financial story for me and my daughter. I'm 45 and late to the game but I am biased toward action, very self-disciplined, and highly motivated to build a better future. Also would love to connect with anyone who is also passionate and driven to make things happen and talk real estate!