I have money for my first, but then how do I get a second?

[Stephanie L Tristan]

I have money from the equity in my current home that we are going to use as a down payment to purchase our first multi-family property. What I haven't heard much about is how to get to that second property. If we use the bulk of the money for a down payment, is it best to just start immediately saving again for the next one? And I am curious to hear people's opinions: If you have one lump of cash...let's say $40,000, is it better to use it for one home and pay 20% down or is it better to break it up and buy several homes but only paying 3.5%. Although I guess you can't technically do that because the 3.5 is only for FHA and you can only have one at a time, correct? So perhaps that isn't even an option. I'm just kind of stuck on how we will buy our second property. Thanks!