Some Monster Life's Inquiries

You and me have the same goal! I'm planning to get all the pipsqueaks because they are too cute that one should not have missed them. But I'm curious how you guys manage your farm as these pipsqueaks require a lot of parents or even grandparents. For example, in this case, we use Pipsqueak Cygnus. Its assembly formula requires Oberon and Shinsoo. Let's say I already have an Oberon (which i have gotten from the combination of my Spirit of Light and other's Dunas) and both Oberon and Spirit of Light have already taken two monster slots in my farm, should I work on Shinsoo again which will further take another three monster slots (Phoenix + Lyka + Shinsoo) ? I have seen many farms where they own both parents together. Is it wise to do so or I should keep myself to own either one of both parents only if I want to have every single pipsqueaks?

You can't combine monsters on your own farm, so owning both parents won't help in that way. It does give you more chances at breeding the Special you want, since you can combine with whatever parent you find on other farms. But it's up to you whether you want to spend the monster slots to double the chance of getting Cygnus or on a chance for getting Horntail as well (just a random example).
Do you guys have some kind of database like the one we have (that Chilly started as a thread and Stereo converted to a site)? That helps a lot with knowing where to find the monsters you need to combine with.