However, to buy my first one I may need to drop 20% for the down payment if it's a SFR (since I couldn't use an FHA loan).Doing that will almost wipe out my current cash reserves, which means it will be a slow grind back to another 20k or so (probably 10-12 months).Conversely, I suppose I could try the fix and flip strategy to earn some cash at a faster rate, and then be able to buy more rentals at once, but I am more averse to this strategy because I lack the requisite knowledge/skills/tools for rehab and because it seems a bit more risky going into a potentially problematic property (obviously any property could be problematic but with a fix and flip you KNOW there are going to be problems).So I guess what I'm looking for are some thoughts as to the most intelligent way to utilize my current cash reserves (about 20 - 25k) in a way that doesn't immediately stunt my growth but also with respect to my risk tolerance and knowledge/skills (or lack thereof).

(traffic, noise etc..)

you gotta tell us size, price, location, zoning, all that good noise

We call it quieting the noise.

Tons of options, the key is being able to "quiet the noise" and really determine what your first deal looks like.

The landlord reference can be a piece of the puzzle, and you want to hear they've never been late, no noise complaints, etc.

Keep Grinding!! 

Regulating noise, garbage collection, colors that can be used for homes in the area, rules around parking, rules for landscaping, and allows for a process for dealing with problem neighbors.

I have had my own training business for 6 years now, so I know the grind and hard work that goes into starting something from the ground up!

I guess the concept is that 1 or 2 is quite manageable and once you get over the 10+ hump you've scaled your business and have solid processes in place. 3-10 is where you have to grind it out.