Property strategy for young couple with one already owning a private property.?

Hi seedly community! My partner and are in our late 20s, he already has an investment ppty under his name which TOPs in 3yrs. We are now looking for a place to stay. My income is about $140-160k a year with 200k cash and 150k CPF.

Options 1) Buy a ~1m condo under my name at a not so good location, cashflow will abit tight or 2) rent for 1-2 yrs and buy a more ideal unit when cashflow improves?

I have heard of ppl who buy new launch to flip while renting to stay. Is this a good strategy?