It may impact the loan and will require you to pay transfer taxes based on the assessed value, deed prep and some additional accounting fees to address basis.

I cannot express enough how much time this road will save for drivers, and the amount of congestion it will decrease in areas that see a lot of through traffic. 

To make a 25% down payment, I need to save $40,000 more over the next 3 months.

Eventually I will invest in cash flowing properties out of state.I'm looking for tips and advice on being a land lord such as maintenance, rent collection, taxes/accounting, legal, and things you wish you would/wouldn't have done starting out.

You take the savings per month and see how many months to get the money back via monthly savings and think if you will refinance or sell before then 

I would be looking to put down about 20-25% for this new property as I have saved with my bank.

Hey Ralph,Typically if you sell a property or any asset for a gain within 12 months, you pay capital gains tax at your tax rate. 

Do I need to wait another year and save $10,000 cash in hand.

You will get your own financing quotes, your own real estate taxes, and your own insurance quotes.  

"Safeguarding our equity is crucial" - then you should probably save instead of invest.