I, and I'm sure you guys do also, have EPM's FHA Forgivable DPA product that I think is great for first time investors.

Structural and Foundation issues can really slow things down because the municipality will get involved with all their procedures and what not what it comes to those two areas. 

Unfortunately, it has also served to prop up the housing market just when it was about to slow down.Before this, the only multifamily low-down payment program available was the FHA loan, which required as little as 3.5% down.

Obviously this is dependent on your local area, saturation and quality of product.

As investors our job is to produce high quality end products, worth hopefully significantly more then what we paid.

(i do think that household formation will slow way down in the late 2030s. 

Even small, common mistakes like renting below market, picking the wrong tenants, unwilling/unable to enforce lease terms, slow turnovers, or unscrupulous contractors can cost more than a good PM will charge, and that's before you account for your time and the stress.If you have the personality, I recommend self-management for anyone who lives within 1-2 hours of their investments.

If saving more helps you put more down on the rental AND you want to buy quickly, consider that route.If you are slow playing your next purchase, maybe you go a different route.Personally, I do not mind being more liquid and collecting interest or investing in the market vs paying debt down, but that is me...

@Philip Hong I love this product type, it's in short supply nationwide.

My recommendation is if you don’t have the means to get your first deal, find a commission based sales job where your income is tied to your production.