Option 1: invest in multi family housing Pro- semi reliable income- cuts cost on my living expenditures -recession proof (can be argued)Cons- high cost start (for me at least)- first time managingOption 2: Buy land and try to negotiate a development deal Pro-huge reward -can be fast- after deal is done right, I'm hands offCon-very risky especially for intro-no expertise in this field -finding a great deal in hardOption 3: wholesalePro-great return-can be fast-not long term Con-hard to find good deals especially with a full time job -can be a nightmare project-no expertise Please correct me if I have messed up with any of my pros/cons.

What would be your advice on the levels of risk-reward grading of the following Real Estate categories?

I digress...Birmingham is a charming city with good weather, great food, and a certain comfort to life. 

.#3 seems like a lot of work for not as much reward as #1

The other is once he has the job locked down, he doesn't really have an incentive to fix it fast since there is no real reward at the end of it while you have to cover the carrying costs. 

As such, I reward them with continued participation in the deal beyond what might be prudent on the surface. 

I know I have a weak spot sometimes for putting in 75% of the effort in exchange for 50% of the reward.

The higher the risk the higher the reward.

This can definitely be a scary but rewarding experience! 

The chase is what makes this so rewarding, at least for me.