Do you think it's better to start sooner with a cheaper property to get in, or potentially wait longer to save more? 

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

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

I have been doing the anakysis on several rental properties and saving the results.  

. - All they've got to learn is to save some of their income to pay their bills on time and they could then afford to buy a home.Instead, they spend every penny they make on things they don't really need and then blame everyone else.Take a look at a Class C or D tenant's bank statement to see the frivolous things they spend their money on and you'll better understand our society's biggest problem.

We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

Focus on saving aggressively, improving your credit score, and exploring down payment assistance programs to build a solid financial foundation.

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

This lesser-known strategy could help you save money and reduce your monthly payments without the hassle and cost of refinancing.

Do you save three months of vacancy for each unit and $50,000 for the roof replacement?