Managing the property yourself can save money, teach you the ropes, and give you firsthand experience dealing with tenants and operations.

Because of the additional income I am producing through the consulting business, I am afforded the opportunity to invest money in real estate.  

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

Give me money so I can prove some guy on BiggerPockets wrong? 

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

Most if not all of these properties require SIGNIFICANT cap ex rehabs and conventional financing won't touch them; you'd likely need to go the hard money route at 10-12%, 2 points, 12-18mon turn around.

If you needed the money ASAP that won't be super beneficial. 

Might have a tenant that will sign a ten year lease and drop some money into the space.

First - You should be investing to make money and a return.

Collateralized Private Loan – Some private money lenders (PMLs) may allow you to pledge one of your properties as collateral for a short-term loan. 4.