In 1-2 years you could save enough to purchase a home to house hack.

I had 5 houses with them that were terribly managed (placing bad tenants, extremely high rehab costs). 

If the house were in perfect condition, it would be worth around 250-275k but as of now, selling isn't an option because we may use that property in the future for our business. 

I own one rental house in Cypress, but with the current market I have not been able to find another existing single family home to buy that looks like a good investment. 

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There's no difference in a local flipping a house than flipping the small mixed-use building that is vacant in town into a couple commercial units and some apartments above. 

Mainly looking into flipping some houses and also small multifamily properties as long term rentals. 

don't be afraid of better markets in ohio like columbus. depending on the capital allocation buying old houses and having to renovate is not the only way to drive value. build rent refinance repeat and build to rent are both very strong market drivers as well and you can traditionally get infill land in areas like columbus in much better locations than where you buy.

I'm currently exploring opportunities in the Honolulu market and looking to use my VA renovation loan to purchase a 3-4 bedroom home, renovate it, and rent out the extra rooms as part of a co-living/house-hacking strategy.

You're gonna get your houses robbed a lot.