Total Newbie Question from Minneapolis

[David Annis]

Hey there,

I'm new to BiggerPockets and investing in general and had a question that I'm sure many of you have answered over the years, likely in the forums as well.

Anyway, here's the scoop. I'm new to investing. I own a home in Minnetonka, and want to purchase a sub 200k single family home as a rental. Its my understanding that I'll likely need 20% down for a second, non owner occupied home. So

1 - Is that an accurate assessment?

2 - I could come up with the 20% in cash, but I'd rather keep that liquid if possible. Are there smarter ways to finance a rental property vs. dropping all that cash up front?

Thanks in advance for your patience and consideration.

Dave