Since currently I have "excess income" from my w2 because I do not need to pay primary mortgage, I could re-invest the money to property that gives "lifestyle benefit", just like you building cabin in AZ/lakeside/etc with minimal risk.

I have 20k saved and plan to use an FHA 203K loan and house hack to net zero/cash flow minimally on my first investment.

He ended up finding a local portfolio lender that allowed him to househack a couple properties with minimal employment.

North of town, west of I-5: 95219 Brookside (high end gated communities; Mello Roos school taxes - so high taxes; Lincoln School District; some peat dirt problems on streets; don't know about foundations); Spanos Park West (some gated; lots of huge houses; basically built for commuters just west of I-5; Lodi School District) North of town, east of I-5: 95209 Spanos Park East, Colonial Heights (most Lodi Unified Schools; though small pocket of Lincoln Unified) North of town, east of I-5: 95207 Parkwoods and Lincoln Village (Lincoln Unified Schools; was considered best family area due to Lincoln Schools, but lots of flat tops and built since the 1950s so electrical can be kind of minimal - 1 outlet in kitchen instead of enough to use multiple appliances); lot of remodeling in this area.

For instance, let's say you do the rehab and go to rent it...considering the relatively low value of the property, it's reasonable to expect that the tenants will have low or no credit, they may be unemployed or on income assistance, they may have minimal employment options, and/or they may have a very spotty history with prior rentals.

That’s helping it cash flow very minimally.

Selecting the right location and property type is crucial to maximizing rental income and minimizing vacancies.Airbnbs: Your initial capital could cover the down payment on a property in a location with high Airbnb demand.

Evaluate risk and minimize as best as possible..you can loose a lot more with the wrong tenant. 

Find someone who is working full time (perhaps one who works different hours than you do) to minimize the amount of time you are in the house at the same time. 

This strategy provides flexibility and can be used to control a property with minimal upfront costs.Before diving into any specific strategy, it's crucial to thoroughly research and understand the local market, regulations, and potential risks associated with each approach.