Show we just save up a down payment once we clear our debt and go the FHA first time home buyer route ?

You won't save any money by going on your own.

If I ever did anything that triggered capital gains I would probably set 30% aside in a savings account just in case. 

Pick their brains, their successes and their failures3) Take Action: Save capital, evaluate deals.

Just know that you are buying time savings because ALL the information they share with you will be available in books, podcasts, or webpages.

I would analyze it to include the replacement rent once you guys move out because your true return of that property is providing you the utility of that rent (so if you lose $200/mo but would be paying $1,000/mo to rent elsewhere, it’s in fact a solid investment and you can ‘save that extra net +$800 towards increased principal pay down or save for another down payment.

They are older and will need repairs in the future.My plan would be as follows:Purchase for $200,000 with 5% down so I would be into it for $10,000.I am asking that the owner hold financing for 5-7 years at 6.5% while I save the monies, improve the properties.  

If we rented for a year I could buy our next home cash and save money on the purchase while not being rushed into buying something. 

Reasonable on Price and paid on installments or milestones.Licensed, Liability and Workman's Comp Insured for him and any Sub-Contractors used to complete Rehab.Any information or leads would be greatly appreciated in order to save time and money for our Fix/Flips.

I’m afraid I’ll end up stressing about saving a few bucks only to end up with delays that will slow the process of getting my units finished, rented and profitable.