Downpayment vs. 401K savings -how much

[Tea Marie]

Hello,

My goal is to purchase my first rental property (non-local) in 2017.  I have just reached my emergency savings goal, now I want to save as much as I can for a down payment. Except for my emergency fund, all of my savings has been going to my 401K since that is the only tax-break that I receive (contributing 18% of my pre-tax salary).  Now I am considering only saving the max that my company will match for my 401K (4%) but I am worried about how much less my take-home pay will be and the tax hit.  What is the best way to maximize saving for a down payment and protect myself from such a big tax-hit?