You're in a strong rental market, and house hacking a small multifamily in Phoenix is a smart way to build wealth.

Quote from @Shayan Sameer: Quote from @Samuel Diouf: Columbus, Ohio is a great market to consider if you're looking for appreciation markets that still have cashflowing deals under $200k.

Passive income is certainly the name of the game - building a real estate portfolio and creating generational wealth are key ingredients to long term holistic financial health and success.There are fantastic real estate investment opportunities in various markets, particularly in the Midwest and Southeast of the country. 

Cleveland would be a great market for you.

Financing can be trickier in smaller markets, so work with an investor-friendly agent and lender who know the area.

Since you have capital,  focus on the market fundamentals and quality of the real estate.

The Birmingham market has been showing steady growth, with increasing demand for both single-family homes and multi-family properties.

Even at 30%, that's still 15,000 potential prospects.What you want to focus on is a competitive market rent.

Then they will start the process over.As for finding a market. 

Looking for both Real Estate Agents in that market and fellow Military who do RE investing there.