Purchasing Rental 90 Days After Purchase of First Primary House

[Christopher Oyenuga]

Hows it going BP? New to BP other than viewing the Podcast. I'm still new to real estate and consider myself in the education stage. I recently moved to the Augusta, Ga area from Northern Virginia and I'm originally from Boston, MA. Coming from saturated and expensive markets, I was very impressed with the low purchase prices of homes in GA.

I recently purchased my first property with my fiance in February. I paid close to asking price, but it was the perfect property for us and we were tired of looking at the same old same basic ranch homes in fair neighborhoods. As I'm looking to expand my portfolio and have found a property rental property which will provide cash flow and is about 30k under the actual value.

I have two main questions: 

1) How much under the asking price should I offer?

2) What lending options should I consider? I could pay 20% down for a second home, though this isn't preferred.

Any other feedback?

I don't want out miss out on this one

Please advise.

Thanks for the support. 

Christopher A. Oyenuga