By law, you need to make a "good faith" effort to re-rent if the Tenant is not successful finding a suitable replacement.

Try to aim at around 20-30% and if you don't have the capital available( remember, it's not just for down payment but money as cash reserves, closing costs, etc), then you should either look at a smaller deal that will be more suitable or you should partner/invest with someone else. 

Inventory is super low and finding a suitable property will likely be your biggest challenge.

Choosing the Right Investments: With numerous investment strategies, property types, and investment options available, newcomers may find it challenging to identify the most suitable ones for their financial goals.

Nor does it matter to me if there will be a rehab as long as there is a suitable range for unplanned expenses.Do you have more ideas for specific areas that suit my budget?  

I will try to find a suitable tenant for the fourth unit and then continue to save and look for the next big deal.

Like any investment this  requires diligence and making sure its suitable.  2) If the idea of owning houses appeals to you decide what is important to you, how many properties you can buy and how much risk you are willing take.

Given the smaller size of the structure I think a small GC would be more suitable.

Both of these options are at the higher end of the rent scale and suitable to properties of that size and caliber.

What types of projects have you found suitable for joint ventures, and how did you go about finding potential partners?