First time homebuyer - hoping to HH in Berkeley / Sunnyside

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Hi all,

New to BP but incredibly excited about the community here and have been reading through the list of BP books. I have always been very diligent about maximizing retirement and savings with my W2 job but I’m realizing that saving can only take me so far in terms of wealth building.

I am a first time homebuyer and hoping to dip my toes into house hacking or Airbnb with my first home. I stayed at a Airbnb in someone’s basement on my first visit to Denver and loved it so that is definitely the direction I’m leaning right now. 

I'm currently renting in Sunnyside and am hoping to stay in this area. I have around $50k to put down on a house right now and could possibly ask family to help with more. I need to stay in my current lease til May 2022 but am starting the hunt now. My current thought is to find something in the next few months, purchase it, then start a rehab so I can move in and starting having folks in the basement (rent / Airbnb) once my lease is done. I'm still not sure what my next steps for real estate investing are - whether it's BRRR or flipping - but I'm thinking doing this process for my first house would be good practice and I could start developing some of the skills necessary. Plus I can identify which parts of the process I enjoy the most and start building a team and systems to manage the rest of the process.

I’d love any feedback on this plan and any thoughts on whether this is feasible in Sunnyside / Berkeley. Thanks in advance and happy to be a new member of this community!