I currently live in the Bronx and there aren't any affordable $400K multifamilies in my area.

I know certain things take experience with a dash of common sense, but when your savings is on the line, you want to evaluate your plan just as much at the properties you are trying to buy.I reached out to a few agents regarding OOS properties to ask about the areas from an investor's POV and it was almost like they didn't want to entertain the thought and were less than supportive of buying in certain areas. 

I'd like to live within 30-mins driving or Uber to a major hub airport with affordable, direct international flights (EWR, JFK, MIA, FLL, ORD etc. are examples).

One factor that is important as well is your current salary, since that will be a strong evaluation when the lender does your preapproval, they need to know how much you can afford and if your able to pay the mortgage most importantly.If you plan on buying out of state, you will be getting some cash flow, less appreciation than California.

All this for a low price.We just need them to be little courteous and patient and not be so bossy.Can't afford a property manager.

Many solid and popular books about rental property investing have already been recommended here, so I'll suggest some less obvious reads...Liar's Poker (Michael Lewis) for pure entertainment and a primer on how Wall Street supports liquidity in the housing market.Home (Witold Rybczynski) to appreciate the many different ways people want to live inside their homes.What Every Real Estate Investor Needs to Know About Cash Flow (Frank Gallinelli) to understand when and how to deploy key financial metrics to make better decisions.Handyman In-Your-Pocket (Richard Young & Thomas Glover) to be your own handyman and/or check up on contractors and subs you hire to work on your rentals.Have fun and don't forget that you'll learn more by doing your first actual deal than you will from all the books in the world.

However, if I find something that fits my flip criteria, Ill entertain it.

You have to figure out what you can afford and balance that with the time you have.

Option 2 seems like a more conservative approach but may take BRRRRing off the table so you will need to save longer to afford the down payment on the next property.If you haven't done it already I would run all of the contingencies through the BiggerPockets Calculators to see what will give you the best bang for your buck.I wouldn't get hung up on the fact you've never BRRRR'd, nobody has done it until they do it and plenty of people out there have proven that it is possible.

A big issue when prop 13 was up for voting was also that property taxes were going up so much so fast that the elderly were being taxed at a rate that they could no longer afford to live in the home they had lived in for decades.