Savings is not the only thing to look at. I prefer to look at cash flows, both in and out. On the expense side do you have a mortgage payment or are you paid off? same question about the car(s). These obligations on top of your typical expenses for food, utilities, etc. will give you an idea of what must be covered continuously by your income. On the income side do you have other sources such as income from investments, possibly another job, etc. that will meet those expenses (or at least some portion of them) while you ramp up your real estate career? The income from real estate, particularly early in your career, will vary widely along the time scale, some months very well and others with perhaps nothing at all. You will need to know how to make sure the good months hold you through the slower ones while you build the activity to a steadier, more predictable flow.

Six months could turn on two years with some bad luck, which I don't wish you. Don't spend a lot of money for site, you will receive calls to offer you site for $3,000, just don't take it.

I’m always amazed at people who are just starting out at real estate and they think they’ve come across the deal of the century with the first property they look at. I think you’re totally right, there are always other deals in you future, and they’ll probably be better deals. A buddy of mine (who answers a lot of my real estate questions) says that every deal he does is his “best so far”.