On January 1st 1936, Hungary starts with four neighboring countries. Yugoslavia to the south, Romania to the east, Austria to the west, and Czechoslovakia to the north. Hungary starts with an abysmal 52 manpower. (soon to be 0) They also have 16 divisions, 14 Infantry (6 Infantry Brigades) and 2 Cavalry (4 Cavalry Brigades and Recon Support) Hungary starts with a deficit of 288 Infantry Equipment and a surplus of 1 Support Equipment. With only 16 Factories (6 Military and 10 Civilian), The Hungarian Industry is subpar compared to 3/4 of it's neighbors. Hungary starts with Civilian Economy and Disarmed Nation.
The last thing that Hungary starts with is The Treaty of Trianon national spirit. This gives.50% Recruitable Population and -50% Military Factory construction speed.Hungary at the start of the game does not cut it as a threat to their neighbors (except Austria).You will have a few different options for a first focus:Balanced Budget gives 120 political power and opens up the path for a democratic, fascist, or Hapsburg King.Economic Intervention gives a national spirit who's effects are -25% pp gain but provides -5% consumer goods factories.
It opens the path for a Communist Hungary or a Fascist Hungary.Industrial Revitalisation gives a 1x -50% bonus for industry tech, and opens up the industry tree.Secret Rearmament gives a national spirit who's effects are.20% Recruitable Population and 5.00% Factory output.Overall, Hungary's start is weak, but brimming with possibility. Hands down the best and most interesting path. While a bit hard if Germany keeps Hitler around, it will bring you the most land, glory, manpower, and sweet sweet industry. Bringing back Otto von Hapsburg will give you the choice of invading Austria or holding a refferendum. (If they vote no you can invade anyways) Then you proceed to demand Czechoslovakia's subjigation.
Once that is done, Romania will have to cough up Translyvania. Italy might threaten to intervene but that just makes reclaiming South Tyrol and Trieste that much easier. Note 9 vs s10 plus size. The rest of the reclaimation will be through claims and wargoals.
Once you have all the land you can take the descision Reintegrate the Empire, giving you cores on your new possesions.