To OP, it's not as scary as you think it is, this will be your first home purchase, you can purchase a multi family or SFR and house hack.

Quote from @Jaycee Greene: Quote from @Jeffrey Eschbach: Investment Info:Small multi-family (2-4 units) buy & hold investment.

Quote from @Tayvion Payton: Hey everyone,I'm evaluating a multi-family deal and could really use your insight.

There is no shortage of private equity offerings, and the aforementioned vehicles. 

diversification and cash flowSan Jose, CA has been very appreciation heavy... and i'm not opposed to keeping some property here, though the multi-family / commercial real estate has very low cap rates, and low growth from what i'm seeing.

Small multi-family is hot right now due to house-hacking (low barrier of entry), and future cash-flow. 

If you're considering house hacking a multi family property, some lenders might be able to factor in potential rental income to help you qualify.

I have built enough capital to feel comfortable investing heavily and am interested in either a flip, small multi family, or commercial.

About 5 years ago one of the sellers we bought a multi family from told us about a company that has a lot of landlords like us and we coshare insurance coverage.

A 1031 exchange will allow you to sell your building and use the proceeds to invest in a small multi family and/or medium term rentals.