Buying my First Property and my financing options?

[Jonathan Dawkins]

Hello Everyone,

Im starting with buying my first investment property in Baltimore, MD. I was going to go the house flipping route but decided I did not want to do the rehab loan process. 

So what I want to do is buy a single family residence home and rent it out but I'm not sure on my financing options. An FHA loan requirements will not allow me to rent out the property immediately so I want to know the best options as far as down payment options and loan types.

The homes I am interested in range from 50k-75k. I want to put anywhere between 3-7 percent down. Is this possible?

Thanks