Save your money, buy some index funds, reduce your expenses (e.g cut out any unnecessary expenses Netflix, going out, expensive purchases, find a cheaper apartment if your rent is high). 

In my observation here in Santa Rosa, the first lots out of the gate that sold went for too high of a price. 

I have not paid retail for RE in many years and would not in my high cost market (average SFH is ~$1m).  

Detailed financial planning analysis can hone in on the actual number with a high degree of accuracy. 

Some strategies to get around are:1. leverage your current portfolio and buy in cash, increase value, and then refi2. buy Multi-family so your ratios aren't the main factor to lenders3. get in with a lender for high net worth individuals4.

The 'buy in' costs are high, no doubt.

If you get in with a locked in company that's in it for the long haul, your success and being taken care of are gonna be pretty high. 

If trump hadn’t won you’d be forced to sell this year, but hopes are high he will extend his lower tax rates. 

But the level of negative cash flow that you're talking about is quite high and it sounds like it's not something you're comfortable with and thus should look for something else.

Talk to your attorney, and if you dont have one, get one - as @Ken M. said, this is highly specific to the state and the circumstances.