From MN: How should I decide where to look and how much to save?

[Sylvia DeMott]

I live in South-Eastern MN (Rochester) and I'm a newbie who is listening to podcasts, reading and trying to learn the language of real estate.  I think I'm probably a few years away from being able to invest (that is, if I need 20% down--I'm not even sure what is reasonable for a multi-family house--duplex to fourplex, better neighborhood, building that doesn't need too many repairs).  I need to simply start to look at listings online to get a sense, because at this point I don't know whether or not I would need to set a goal of a $40-$80k or something different for a downpayment.  It would certainly take me less time if it's $40k down vs. something like $80k. 

Question: I want to understand how much would be a good place to start--is it better to get into the market quicker by buying something less expensive (single family or duplex) or waiting and saving for a bigger downpayment for a more expensive/larger/or better quality property?  It might be the difference of 2 years or more.

Question:  Where do I start to look in terms of geography?  Should I just start looking at listings in my city (Rochester), look at cities within 1.5 hours away (when I mean looking at this point I mean going online to look--I'm still very much a newbie).   If I want to look farther away from where I live, would I just pick a city and start looking at listings and start learning how to run the numbers or would I look at what's trending on the forums to see which markets people are looking to get into?  Is it way too soon to contact a realtor and just look to get some knowledge of the market even if it's a few years away?

What is the best way to spend my time if I'm still in the knowledge acquisition phase and figuring out where to invest stage?

I would appreciate your input.  I'm literally dipping my toes in the water by writing this post. 

I'm looking for something to work on besides listening to podcasts, saving money for a downpayment and reading books.  What's the next thing I need to start to learning while I continue to read/listen?

Thanks!

Sylvia