HI,We just recently sold my parents house in MI, and with my share as well as whatever else I have saved up, I'll have enough to make my first investment. 

You could go tub surround and likely save money.

The tendency might be to save money on fees to do less draws.

I filed bankruptcy in 2014 and now I have $10,000 saved for my first rental property.

Since maintenance and repair costs aren't stable or regular, we need to at minimum save for when these expenses do occur.In more expensive markets and higher renting properties we need to save a smaller percentage.

My wife and I would like to use real estate investing to fund our retirement, and help one of quit a day job (eventually both of us) so that we can live together. 

So right now we really do not have enough money saved to do a down payment currently for the FHA or conventional loan.

Following is a good resource on the rules. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactionsAnother option is to open a solo 401k if you are self-employed and then you can borrow $50,000 once you transfer the IRA to the solo 401k plan.

I'm in the process of saving money to make a decent downpayment on a duplex or multi-family to house-hack.

The first time I went to the meetup I saved $20.000 , quite a story !