Where to put savings for down payment while searching for deal?

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My wife and I are building up our savings account in preparation for buying our first multi-family.. I'm curious where folks like to keep their savings for down payments? We’re currently getting about a 1% return with our banks' savings account, but wondering if we should move the money into a different passive investment vehicle like an ETF fund to get better returns while we’re looking for the right deal? 

One of my bigger concern is not knowing how difficult and how long it takes to liquify a fund and have the money ready for the down payment? Plus what kind of fees are associated with doing so? Money kept in a savings account is obviously free and easy to transfer. Any advice would be much appreciated!