The choice depends on readiness, experience, and long-term goals.Good luck!

U see adds all the time  GREAT CASH FLOW  well GREAT cash flow is a personal choice opinion someone in the mid west if they are not getting 1 % rule 2% rule its terrible..

In some cases the cash flow may interfere with a choice so we go with the property with the most equity.

Yes, it could be the signs of a certain personality defect, but it just as likely could be the sign of a young 20 something being "young n dumb" making poor choices. 

Rainier.There are choices, but personally I don't think cashflowing there is easy. 

Of your choices, #3 makes the most sense, but it doesn't have to be a house hack.

We opted to go with a smaller renovation and it was the right choice in the end.

Commercial and multi-family real estate are great choices in Houston.Good luck!

I made this mistake when I was starting out - I got excited about the returns of a development deal - but I didn't pay attention to the fact that I needed to be a cash flow investor because I did not have a W2 income, nor did I have sufficient passive income yet.It is critical for investors to understand the relative importance of evaluating the sponsor, alignment of interests and the deal.  

I've established a very stable  I've determined that local properties should be my first choice and by local I mean within 1.5 hours of my primary residence.