5) Or should I save, wait, prepare for the next opportunity when that $41,000 is saved up?

Be as prepared as you can be and you will succeed. 

The combination of lower interest rates, accelerated amortization, and the income potential from renting out spaces within your property can set the stage for remarkable wealth generation.And for those taking the plunge into first time homeownership or those implementing the buy-one-house-per-year strategy with primary residence financing, remember that strategic moves today can lay the foundation for a robust and dynamic real estate portfolio tomorrow.Here's to unlocking the full potential of your real estate ventures - may they be as rewarding as the strategies you employ!  

We are buying our third home in a few months and are currently renovating our second home, preparing for renters.

It's usually better to give them a notice so they can prepare and raise it up to or near market rent. 

You can set up a joint venture partnership if everyone is truly active.Are they going to be buying, improving, and flipping land?

You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.

You can offer to lend the seller money to stop the foreclosures. 7 or do a lease with an option to buy - making up the back payments that would be considered you advance lease payment.Always look at the property if you have intentions of bidding at the auction (this can be tricky because you need to do that with the owner's permission - do try to build a rapport with seller  - also look at the foreclosure suit to find out what the bank is looking for and if there is a second mortgage or other liens.At the court house steps when the auction take place you need to be well prepared with your certified funds but more importantly you need to know the fast sale value of the property - you don't want to pay retail.Get to know your competition - there will be professionals at the foreclosure auction looking to capture some serious equity.

You have to get the foundation poured and be prepared for the delivery. 

Unless you're filing the tax returns yourself (not possible to e-file a partnership return if not a preparer), then the cost is usually a large barrier for a lot of people as they're starting out.