New to BP and Real Estate investing!

[Chris Mitchell]

Hey all! I'm in Albany, Oregon and I'm very new to Real Estate investing but have been looking into it for a while now. I've listened to many PodCasts and read/listened to a lot of books related to the topic and am eager to get started and learn. 

The only experience I have is owning a house and househacking the rooms to subsidize my income. My realtors business partner helped me figure out how to acquire rental forms and do background checks and that's about as far as I've gotten. My overall goal for now is to acquire a second property and start cash flowing!  

I admit I have been getting overwhelmed just thinking about everything that goes into real estate investing, so I am trying to limit my goal to obtaining a rental property and probably don't want to get involved in anything else like BRRRR or Fix and Flip.

Here is my current situation: I have ~$50k cash in savings. I am considering refinancing my house (FHA loan to conventional) and am currently talking to my loan officer about options. I'm guessing I have about 70-100k equity in my house (owe 172k value is 240-275). I have a 401k with $38k in it but from what I understand the options I have for taking a loan out of it are not good. Lastly I have a Roth IRA with $12k in it and as far as I know the options for taking money out of it are also not good.

My current thought is refinance my house and find a multi-family property to owner occupy. Still not sure if I want to try to manage the properties myself or hire a property manager. I've been told its easy to get caught up in a legal battle with tenants due to the equal housing laws in Oregon. With all that being said, what are your guys thoughts? Any information is helpful! Also, should I be posting this on multiple forum categories?

Thanks,

Chris