We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

Can waste a ton of time, money, and effort on this which could be used more effectively evaluating deals, strategies, and markets where you can find returns.Good luck and feel free to connect if you'd like to chat more about it! 

Trust me, I have been there.I suggest you try to House hack in cities that you are already familiar with and have some connection with.Hire a great investor agent in that market and ask them all your questions and concerns.That I believe is the best way to get personalized advice tailored to your goals and lifestyle.You giving out Cleeveland and Toledo on your post will only attract biased opinions and advise.Only you know what you truly like, want, and can deal with.As Nicolas said, read this post and comments and hope that gives you a new perspective. https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...Goodluck and keep us posted.

lat=43.1688001618486&lon=-77.6159378282709 I’d also suggest considering whether you live or work nearby, so you can stay informed about any developments. 

If you rent in a high-crime area, I wouldn't suggest it.

In effect, earnest money is just paying more of the down payment and closing costs upfront.”Keep in mind, this isn’t required, and it doesn’t guarantee your offer will be accepted.

Since this is my first project, I’m very open to any advice or suggestions—especially regarding potential obstacles I might not have considered.

Any suggestions?

The rules are designed to prevent related parties from engaging in exchanges that shift high basis property for low basis property, followed by a sale of the low basis property, effectively "cashing out" without recognizing gain.If you sell a property to a related party as part of a 1031 exchange, both you and the related party must hold the exchanged properties for at least two years following the exchange.

I would suggest coming to some investing meet ups and just start talking to others and form a plan based off of that.