At this time the primary goal is passive income and then scale within 5 years as I gain more experience and network. 

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

I would keep it in a high interest bank account might as well earn as much gain as you can no matter how small it is.However I think some debt pay down would be great not to the point where you are not liquid enough to Jump at another opportunity or can’t make a major repair when it arise.

I'm very new to investing and weighing which options would benefit me the most.Option 1:  Use the cash as down payment on another primary residence and rent out the current.

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.

To markets where you’ll gain long term tax free wealth. 

Condo: Condos may offer maintenance benefits, while homes provide more control.Size and Layout: Ensure the property accommodates your child’s needs and potential roommates.HOA Fees and Rules: If considering a condo, check for restrictions that may impact student living.4.

I had an experience with a terrible tenant who reported me for a bogus claim but by making the claim it allowed me to gain access needed to get photos of the condition of the property, and then the tenant refused to allow maintenance people in which really helped prove my side of the situation.If possible, explore alternative dispute resolution options like offering the tenants a cash-for-keys agreement.

This forces you into an endless loop of Cancel - "Retain my benefits" What do I need to do to cancel this membership?