While at the same time taking a chunk of cash.  

I'm very new to investing and weighing which options would benefit me the most.Option 1:  Use the cash as down payment on another primary residence and rent out the current.

Ohio is a great market to be invested into as you can still find positive cash flow (aka the 1% rule) and tons of appreciation here!

Still tons of deals that hit the 1% rule and positive cash flow here and you get amazing appreciation potential.

Even the funding alone is easier since you now have a cash flowing property that can help you fund your seed money faster. 

If your goal is to maximize cash flow, look for properties where you can live in one unit and rent the others at market rates.

Purchase price: $530,000 Cash invested: $100,000 My journey into short-term rentals began after years of investing in long-term properties, but it was a podcast that opened my eyes to the incredible potential returns of STRs.

As a former business owner, there are times of the month where it seems that all the cash goes out at once.

For the down payment, aiming for 5-10% down balances cash flow flexibility with homeownership. 

I think it is fair to say that there is somewhat of a tradeoff between markets that provide positive cash flow on day one and relatively high appreciation-based markets.