Financing First Investment Property Question

[Neguiel Hicks]

Basically, I need options when it comes to financing.

I am looking at adding a couple of rental properties to my portfolio and need insight on how to finance them. All in all ther are about 6 properties all under $120k that with about $10-15k (over estimate) can be revised up in value at least $20-30k. These are also great rental properties as all are CFP $300-600/month without renovation based on 30 year fixed calculations and $600-1000/month on the ARM (I/O) calculations. I have an existing rental in another state, however I do not want to leverage that because I have a HELOC that will go toward an AC replacement later this year.

Now for the kicker, I was laid off around December last year and have never financed a property without income before. Are there lenders who will finance these ventures without charging 20%?