You have a good understanding of the Strategy........Appreciation primary, cash flow secondary!

Should it be bought as investment property or as a secondary home?

@Arn Cenedella that’s along what I’ve been thinking, to do reverse math and see what would make sense for 3/4 rented units accounting for expenses and vacancy.

As someone new to RE investing I like the idea of new construction but I also like the idea of a brrrr on a larger lot that I could put a secondary dwelling on to increase  cash flow.An example would be a property built in the 60s 3/2  in Saint Pete Beach on a large lot.

I have done the math and I’m estimating my expenses to be around $3000 a month and a monthly cash flow of $1000 a month. 

As @Steve Morris said, broker math tends to be fairly...generous.

So the math is 690k*.8/.06=$9.2mm valuation or what I can potentially sell for.

I am very confident in the secondary cities for the future. 

@Brian Garrett find a good partner to operate in a market with strong fundamentals and good cap rate, including secondary cities.

your living expenses will be lower and if you want, you can use the extra income to pay down your student loans faster if the debt bothers you.Do the math and see what you save by paying down the loans faster compared to house hacking.