We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

From 9/9 to 9/18, I struggled to get to funding with them.

Large deposits are nice, but very difficult to actually get access to escrow funds in the event of default.

A 1031 must be for equal or greater value or the funds in excess of the value of the new purchase are taxable.

Some lenders will fund 100% of the deal + renovations if you are experienced.Wholesaling is possible but be mindful that it is a business, you don't make any money until you can persuade someone to sell their house and then to find a buyer.I personally think its easier to be an agent, still a business but there should be people teaching you and you have more of a reputation when talking to sellers.

This means having to take a chance and take the property off the market for 2 weeksOption 2- Accept the offer with a provision that allows you to continue to market the property, knowing that there's a chance FHA may not fund the deal. 

Quote from @Adrian Lammersdorf-Scioll: I'm helping a buyer right now that works int he hospital get 5% funded for them on a home, that may be something to look into, it's called hometown heroes here in Florida.  

I’m also open to exploring short-term rentals, private lending, or passive investing in funds—anything that maximizes returns while keeping risk and time commitments manageable.For context, I’d consider leaving my job if this could become a full-time venture that surpasses my current compensation (low-mid six figures).

Get some gift funds to help with the down payment if you can.