Also if I were to go the GPU route, what would you guys recommend mining? sticking to one currency like ZCASH or diversifying the mining operation?
An intelligent strategy is to always mine the most profitable coin (this of course will depend on the GPU that you are using, as mentioned use whattomine.com), then just simply convert/exchange this coin to whichever you feel like would be more valuable in the future. Concretely, don't directly mine coin A for it's future value. Rather, mine coin B that will allow you to buy more of coin A. Future profits will always come.
Thank you. This is definitely what I want to do. With my budget however, would it be more wise to do half ASIC and half GPU or would be be more profitable (from initial investment) to buy straight GPU and mine some random altcoin that generates the most profit?