I've applied for a conventional loan: 3 units, owner occupied, NJ, 5% down.I have enough W2 income to cover the loan and additionally, there are two units rented already. 

NO tenants, no repairs, no closing costs, no rent control just passive income for putting your money in a CD. 

We have a good scattering of bookings from now to Feb 2025 and we keep having higher and higher gross bookings every year.We had Ashley Judd book the week of Christmas of 2023.

Was projected to gross $100k a year before Ian hit. 

Diversity the way your income is taxed. 

Also maybe turning it into a two family home to maximize rental income is an idea.  

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).

Right now the rental income covers most costs and I’m going to be paying 600 a month of my own money. 

Following is the income for all the unitsRentsNew Rents Expenses Unit 1: 1800 sqft $ 975.00 $ 1600Insurance $ 6,000.00 Unit 2: 1100 sqft $ 900.00 $ 1100Taxes $ 2,728.00 Unit 3:  1100 sqft $ 925.00 $ 1050Sewer Charges $ 4,800.00 Unit 4(Apartment): 700 sqft $ 700.00 $ 850Vacancy $ 4,000.00 Total $ 3,600.00 $ 4,600.00 Repairs $ 2,000.00 Yearly Revenue $ 43,200.00 $ 55,200.00 Total $ 19,528.00 Mortgage Interest Only/m$1,460.00$1,460.00Mortgage Interest Only/y$17,520.00$17,520.00Current Income Projected Income Net Operating In $ 23,672.00 $ 35,672.00 Cap Rate4.30%6.49%Cash Flow With Int Only $ 6,152.00 $ 18,152.00 Cash invested $200,000.00$200,000.00COC3.08%9.08%What are your thoughts on this deal?

House hacking is for sure the best way to get into real estate investing (in my humble opinion)If you combining your incomes puts you where you want to be, I'd do that.