If you look at the one mile income radius and you see median household income at 45k, then take 30% of that or $13,500. 

For those that are familiar with the area; Is there a strong rental market in Augusta to focus on rental income, and if so, which areas should I focus on?  

I currently do not have enough funds to fund a down payment and am trying to find the most efficient way to save.

Make sure to run your numbers conservatively and based on the current as is value if you plan to go this route. 

Currently most of the rentals are more densely available in town closer to the downtown portion of the city. 

IMO cash flow provides a way to mitigate the risk of unexpected expenses and loss of income due to vacancies.

I think the OP is talking about property tax not income tax ??

Again, replaces previous active income. 

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

I also kept my first home and it is paid off now and worth approximately $150k, with current renters.