I am licensed real estate agent but concentrated on investing and building a lead generation business.

I am not new to RE development, but most of my concentration through the years has been in commercial flex warehousing and industrial development.

Inflation has risen a few months in a row, but barely, and much of that growth is concentrated as of late.

In these real estate deals you are dealing with 10s of thousands of dollars and when things go wrong on a thin budget is when you see dumpster fires and hear the cautionary tales.Most new investors concentrate solely on the down payment when in reality there's lots of costs: Closing costs, Holding Costs, Utilities Cost, you'll have to lay out money to the contractor for them to start the project, and there's taxes and insurance there's transfer tax title costs.More capital than you think is needed. 

If I were you and considering house hacking, I would concentrate on investing in duplexes or fourplexes. 

The idea of a large amount of money being concentrated in one loan is a little concerning.

Since it is going to be a rental, first concentrate on any items that need maintenance immediately that prevent it from being rented now (creating cash flow)(including all parts to be working, such as HVAC, plumbing, electrical, etc.). 

If your buddy is a realtor and you're partnering then let him pull the comps and you concentrate on the other part of the process, finding and getting the properties under contract. 

Thank you, yes I think a good idea is to get situated with a primary first and concentrate efforts there.

My advice would really just hone in on your strategy and what particular asset you want to concentrate on.