First Home Purchase vs First Investment Property - What to do?!?

[Moneque Horsey]

My Fiancé and I are in the process of purchasing our first home in the (Montgomery County,PA/Philadelphia) area. However, we to want invest and  get into flipping. We both have property management experience as he is a current regional maintenance manger for a multifamily management company as his 9-5. I do staffing for the multifamily industry for my 9-5 with leasing and property management experience. Our home purchase is based the school district as we have a 10 year old. Are we shooting ourselves in the foot if we get into a 350,000-400,000 mortgage? The area really matters because we're raising a family. We are renting from family (need and ready to get our own place), great credit, approved for conventional loan, lost 2 offers on home (market is competitive). If we could purchase a multifamily property with a few rental properties as well as flip properies as a couple applying our experience we acquired over the years that would be our dream. Any advice would be appreciated!!