They have strong financial stability, excellent credit, and are experienced homeowners.

Rather than concentrate on the initial cash flow, concentrate your effort on markets that have indicators of strong rent growth.  

As someone else had mentioned, the prospect for appreciation should be a strong consideration. 

Submitting real offers that you feel confident actually closing on and having a strong sponsor to work with that has a track record will go much further towards you winning deals.In short, you can pursue larger deals right out of the gate if you want to, but generally expect that it'll take you longer to win one and make sure you have the right players on your team so that you're prepared to win them and to close them once you do.

MelissaHi Melissa, I would strongly recommend taking a look into Columbus Ohio. 

I think flips only make sense when even if budget goes up 20% your numbers still show a strong profit. 

However, the biggest con is that you are sacrificing a bit of your privacy by living right by your tenants and it is usually a lot more stressful since everything is your responsibility - managing tenant issues, handyman repairs, taking care of the lawn, etc.I would strongly recommend house hacking especially in the Columbus Ohio market!

Tech is still wicked strong in CA but, that's being challenged now in a way never before, and getting some traction.

Staying local and house hacking—especially now, before kids—gives you so much flexibility to set yourselves up for long-term success.Your financial foundation is super strong, and house hacking a quad sounds like an amazing first step for you two.

This deal showcased how strategic planning, targeted improvements, and a strong partnership could deliver impressive returns.