REI is all about taking risks, and since you only have enough capital to try out one strategy right now (perfectly normal for someone starting out - no, you're not behind the curve) then I would start with your safest bet that is going to make you more profitable in the long run, either with knowledge or cash flow... ideally both!

If it's not a good investment property the numbers will tell you.Jaron,We brought the present home in 2012 as our first home.Its a new construction.I did run the numbers on the existing home.As I mentioned we paid 212k in 2012.Took an FHA and refinanced to conventional a few yrs later.(3.5% for 30 yrs Balance on mortgage 160k).Mortgage runs to 1200/month.Our property can be rented out as is for 2000/month.Its a 4 bed 3 bath and rents in our community start with 2000 range for our sq footage.I want to pay off this house asap in next 5-6 yrs and free up money to invest in another house.The houses in our community are in 450k+ range.Hubby is preapproved is not the reason for another house.The other house is right opposite to our community  and is a 5 min walk from our house.So its not a big move.Except that I want to move closer to our kids friends.Our lender metioned Heloc maybe a good choice for further investments.I want to explore Home Equity Loan route to be safer.I am still a layman in Heloc route and dont want to burn fingers.Any advice.P.S.What is COC? 

A few years ago I would have said convert it to a rental, but it's not the sure bet it used to be when 25% of our tenants are refusing to pay rent. 

-You could purchase another property and use your 25-30k combined with private/hard money to take it down.The choice is yours, stay hungry!

Steel seems to be the most common choice for class C rental remodels.

I bet you can.

Or would you say your best bet is to manage the complex (if even) properties yourself?

Your best bet would be to link up with some wholesalers who have been doing things on their own or with a small team. 

Once you know that number you can make a choice.   

And house hacking was my strategy of choice.