I'm planning to review where I stand, considering my current low income, to explore the best path forward.

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

I also look at future development plans in the area, as new projects can increase property values and attract more renters.

Plan would be to sell. 1.

It depends on what your plans for the property are. 

Have you thought about this approach or considered a phased plan to build up your portfolio?

Our initial plan is to house hack a quadplex somewhere in Orange County.

I think by waiting to last minute to put things together you miss items and year end tax planning becomes problematic.

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

Since you're a citizen but you live and work abroad you'd still qualify mostly for second homes occupancy or investor non owner occupancy (primary is hard to claim if your job requires you to be physically next to the office as an example so an underwriter isnt going to readily believe you unless you can get HR to write you a letter to state you're remotely capable of earning this income/job duties anywhere).Hopefully that helps let me know if you have further questions into mortgage planning.