It'll save you time, and your sanityAsk me how I knowGino

Do improvements while living there.You can technically do this every 12 months, or as soon as you can save up your next down payment.You can also buy 2-4 unit properties and use FHA to put only 3.5% down.

or save it for next month?

I think you need to start by figuring out what you’re near term goals are - are you wanting to generate enough cash flow to offset W2 income, are you simply wanting to supplement your retirement, are you looking for significant tax advantages etc.

I waited 4 years between my first and second property while I saved money.

Or should I hold for another 24years and finance smaller homes on my own savings? 

I keep telling myself that I'll keep this thing forever and it'll be my retirement.

Column G - expected cash flow for total number of units at $100 per unit per monthColumn H - down payment need to acquire the new units at 30% downColumn I - adjusts how much down you would need assuming you saved the cash flow from the previous year and applied it to the current year's acquisitions. 

We don’t really need the $400/mo cash flow and so have been saving that just in case the house needs a major repair.

I have a knack for saving on materials while providing some unique flair that will stand out in the market.