I started by saving up for a down payment which was 5% for the first "second home" property in 2004, then 10% on the next few. 

@Ryan Cousins it's really going to depend on YOUR analysis/projections of what you think the property will be worth in the future.You'll want to compare that to any capital gains tax-savings if you sell now.

If I already have some properties under my belt and they are cash flowing, I'll be much more willing to save time by using paid tools etc.

Others have little/no experience and will give you bad advice that takes you down the wrong path.I recommend you focus on educating yourself while saving more money. 

@Tobi Isaacs  Third Federal Savings and Loan.

I would love to benefit from the savings of grouping the listings as a primary with add-ons, but the last time I tried that, there were multiple issues on their end.

I currently am a resident here (so distance is non-factor) and I possess some handy skills that could save renovation costs (besides HVAC, structural issues, plumbing, electrical work).

I did save some money to have as back up.

@Tanner KingWhen I analyze a house hack deal, I focus on metrics like GRM, Cap Rate, Cash Flow, House Hack Savings, and Future Rent Potential.

Buy and renovate the property and in 6 months do a simple cash out refinance and pull out some cash and start the REI process all over again.I am North of you up in Pinellas County West of Tampa and there are also some great places up here that might save you some cash.