I Need Advice Starting Out

[Cody Jensen]

I never purchased an investment property before, I have found a house that i want to see more of the inside and such and possibly make an offer. But financially putting 20% down would nearly diminish my bank account. What would you do? 

I really would prefer not to live primarily in the property even though an FHA would be the best. Is there any loopholes in an FHA?

Also, Putting 20% down wouldn't be a problem but it would be like starting life all over in a sense, sadly this is one of the cheapest homes in the area and surrounding areas (The housing in my location is extremely expensive 400K for a decent home) . Do you think it would be wise to take such a big risk at first ?