I think you may have very well narrowed down my strategy choices down to one of three; the BRRRR method (although this might be too much to start with for a newbie), the live-in flip that you mentioned (probably the most practical as I've been part of many different projects in the construction industry), and a combination of house-hacking/live-in flip (probably the most rewarding with a potential to swap between units as I finish one in order to bring better rental income).

Going solo may offer potentially lower costs and more control but brings challenges like time-consuming coordination, potential delays, and warranty complexities.

SMF you could start in the low 200's that are in a better area with cash flow potential.

I cannot qualify for the Real Estate Investor status because of my full time job but my wife could potentially do it.

3) the back of the property leads to a cul de sac which could potentially be another entrance - option would possibly be building a duplex or fourplex which would be less costly - then sell it and make another and use the profit towards the apartment building and just build 1 because who has that kind of money.

However, it may offer less liability protection and potential tax implications, which you should discuss with a tax professional.

Just make sure to consider the potential limitations if you do decide to move later on.

This residency requirement would apply for a specific period, so it's important to be aware of its potential impact on your plans.Its important to carefully evaluate the distinct investment opportunities offered by Colorado and Florida.

It's best to review with a good RE attorney, potentially a business attorney, and your tax professional to make sure you're set up to avoid mistakes along the way.Also, discuss the ramifications of how it works with your lender (if there will be one) as not all lenders and loan programs are created equal when dealing with LLC's.

My portfolio currently consists of LTRs and I am actively looking to expand it to include more SFH LTRs, and MTRs (potentially student housing).