The Rapid City area has some unique opportunities, and building connections now will set you up for a smooth transition.

Similar to what you said I knew I needed cash reserves for our business but didn't want that money laying around in a checking account not earning any interest.For book keeping I recently transitioned from Google Sheets to Stessa. 

This may be challenging with both of you in full-time W2 jobs, but worth considering if one of you can transition to real estate part-time.Alternatively, the Short-Term Rental (STR) loophole offers another path.

When I do it for me and my clients, we go very conservative to give better expectations of the transition process, than if it goes better, great!

My husband and I both work stable W-2 jobs (he’s in trucking), and our goal is to eventually transition to real estate full-time.

Also, since most mid-term renters are in transition I typically ask if they think they might extend.

Many successful active investors transition to passive investing as a way to diversify into new asset classes or markets and to earn back some of their time and still benefit from the positives of real estate investing.To answer your question - I would allocate a portion of the $200,000 to MF as I believe this is a good time to invest in an asset class that has recently struggled. 

It’s inspiring to see how you’ve transitioned into real estate full time.

Carrying costs in purchase and or rehab is financed, cost of capital on refi, re-recording, title, updated insurance, etc. their are many costs at play after initial funding then to transition long term unless your straight cash on the front end.

Hi Julian, welcome and congrats on your transition to full-time real estate investing!