Your best bet is to put into index funds. Personal experience from myself, I started investing in stocks in 2011 and that time had wishful thinking that I could probably "time" the market and obtain superior returns. At 2015, after 4 years, and "only" after total of ~25 transactions, I only managed to gain ~10% (2.41% CAGR). Most of the stocks involved were tech blue chips such as AAPL, GOOG, AMZN etc. The gains would have been much worse if I performed more transactions, say 50-100 transactions.
If I had put into SPY (S&P 500 index) during the same period, returns would have been 51.24% (10.87% CAGR)!
Mutual funds will most likely not probably beat index performance, since they will have stuff like loading fees, operating fees etc. Furthermore there are many types of index funds to choose from, for example value, growth or industry based such as biotech etc.
Having 2-3% per month is not probably going to happen, that means 27%-43% of total returns after compounded. Hedge funds do not come even close to this (if u can afford in first place). Would be considered lucky if can get ~10% per year, that translates to 0.8% per month, compounded.
Opening small biz? I don't think 200k is probably enough, and brick and mortar biz has its own risks as well. Also very location dependent, what if your place has little customers? You will probably burn a lot money if your biz doesn't survive. Since you're still young, and thinking of striking rich, you might as well go and pitch startup ideas and do some kind of software/apps/fintech whatever hype that's currently going on.
If I were you I will stick with property. Property is physical asset, is a scarce resource and you can rent out for recurring income. Interest rates are very low now, and assuming your location is good your rental rates may be able to cover your monthly mortgage expenses in future.
Other ways of making $ ex FX - u better check out the image (from the Hedge Hogging book) on the probabilities.
