I own a house worth $115k outright? How hard would it be to leverage?

[Jacob Hancock]

Hi there I own a 2 bed 1 bath home. It is rented out for $1050 per month. Its the only property I own. outside of my current residence that I currently have around $100k in equity.

I was wondering how hard it is to leverage it into a $400k deal and that is the max I'd like to leverage to. I only make 40k per year not including this particular rental. I do have about 30k in available cash right now.  For the right deal in your experiences would a bank be subject not to loan me money on it? I hear as long as you have 20% they will. But I don't think I am to naive to just believe that.

I am 25. I know I could loan 80% but I would want to stay on the conservative end of things to get established.

What are your experiences with these situations? any suggestions would be greatly appreciated. Thank you so much in advance.

Best,
Jake