And for an OOS, I always advise to keep things simple at start, don't get greedy, go for quality and consistency, then work on maximizing monetization later. 

Once you have a consistent amount of income from your business for 2 years where you can afford to buy a primary, then I would look into house hacking.

Don't discount that.Real estate remains a valuable investment despite current challenges due to its tangible nature, long-term appreciation, and potential for consistent rental income.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

You said you are new to real estate investing but you have a background in residential real estate - what does the background consist of?

I believe the property manager needs be on island (but i could be wrong).

It often takes living and breathing the industry around the clock for a few years before you start seeing consistent returns.

The BRRRR strategy is doable for a newer investor, but it requires a lot of effort, consistency, and hands-on involvement—it's not exactly a passive way to invest.Whichever route you choose, if you're taking on the bulk of the work to analyze deals and select the best ones, it’s important to ensure your partnership reflects the time and energy you’re putting in.

We are in a small market so we were very surprised to consistently fill 4 and now we are looking to do 4 more. 

Another course that is better is Land Flipping 101.