Young beginner in San Diego market
I've narrowed down my first investment opportunity to the following three, but I'm a bit unclear as to which would be the best, and how I would afford them. I have a great credit score, ~$20k available in the bank, a well paying salary job, currently renting at $950/m.
Option 1: Buy a duplex in SD county, live in half and rent the other half. Those are roughly $500k+ and very hard to find, but I could probably get an FHA loan and save that $950/m.
Option 2: Buy and hold in Phoenix AZ. Better rates, close enough to drive if necessary. Could use traditional financing if pre-approved first.
Option 3: Get a group to do a flip in SD. Can't get a traditional loan for this. Would need hard money + gap funding. Seems expensive and not a big return, but good learning experience.
Are either of these good options for a beginner? Is there potentially a better option I should consider?