How would I determine how big of a house is most suitable for investment purposes?

Partner with a qualified real estate agent, property manager, and legal professional to assist you throughout the investment process.By considering these points alongside the existing list and seeking professional guidance, you can increase your chances of finding a suitable multifamily investment even in a competitive market.

The group I work with may have some suitable financing options for you. 

High-priced metro areas are not really suitable for a repeat house hack investing strategy.Additionally, there are usually levels of location and quality within the same geographic area that can also make a big difference in the numbers.

In order to make that happen, we are considering selling the land and taking what little profit or equity from that sale, and saving up to purchase property in this other location we decided would be more suitable for our retirement.

Up-and-coming areas: Consider areas like Heights, Fifth Ward, or Third Ward, which offer potential for growth and affordability while still attracting visitors.

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?

As for the steps you should take, I would first find a market that is suitable for you and showing signs of potential market growth.

I guess the first step would be to find that piece of land that is suitable. 

It's even tougher when you have time and other constraints, too.However, that describes virtually everyone who gets started in real estate, or at last those who post, visit or even just lurk on these forums.Paying for education is pretty typical.