You either need to find a way to make and save more money or look into owner occupied investment strategies like a live in flip or house hack.

Applying a value add strategies can get you to much much more equity rather quickly.

This means investing across asset classes, geographical locations, strategies, and sponsors.  

Exit strategies are typically, refinance into a long term loan and hold or sell it for profit.Cheers!

There are alot of real estate strategy out there which will allow you to obtain a piece of property unconventionally. 

2.Are there strategies to reduce the required down payment or secure better mortgage terms?

What is the best strategy in your opinion to niche down on a target audience in any given market?

If you hate the process of placing tenants, it may be worth it to hire a property manager to handle tenant placement for you.I think finding a new tenant is a better long term strategy if you're confident you can find a higher quality tenant that will cause you fewer headaches.

@Anthony KolbuszBRRRR method is a fantastic strategy, especially with your trade experience.

Solid strategy!