New to the game

[John Blythe]

New to the area and even newer to the world of real estate. Looking to build my wealth through strategic investments.

[Daniel Kenney]

@John Blythe If you're looking for risk aversion, I would consider house hacking a 2-4 unit (i.e. you live in one of the units and rent out the remaining units).  There is a TON of info on this strategy on BP if you search it.  The advantages are significant, including lower down payment, minimized personal living expenses (rental income offsetting a significant portion or even all of your mortgage), property management experience, opportunity to keep great financing in place when you leave, etc.  Otherwise, I still agree with the small multifamily approach but please, please stay away from cheap properties in bad neighborhoods that seem like cash flow machines.  For your first investment, I think you are better off with something more boring but less of a headache... think B neighborhood with decent cash flow and maybe better opportunity for appreciation.  I don't know your market but hopefully that's helpful....  

Also, check out the BP podcast. If you listen to all the episodes in your free time or while driving, you will have built a great foundation of REI knowledge.