Newbie deal structure

[Justin Kliphouse]

Hello to all. I just wanted to get your guys opinion on how and best way to structure my 1st deal. So a little about me I currently have 1 rental property that has a cash flow around 550 dollars a month approx equity is around 25k. Current house I live in has approximately 50k equity. When I purchased 2nd house I borrowed on my 401k for down payment 17k for 20 years I stretched loan out as long as possible so my weekly payment is 25 dollars a week 100 a month. I can only have 1 loan out at a time and have a balance of 52k (67k with loan payed). I have around 13-15k in back accounts (cash). I showed 82k on my w2 last year. Credit score is around 710. I contracted a loan specialist he advised me the their are a couple programs that I can qualify like Freddie mac program and home style program. So program requires 15% down. So on a 100k property I'm looking at about 15k down plus closing and seller contributions up to 2% towards closing. I looking to do a buy and hold deal or a flip to get capital up. I reached out to a few private lender as most require 20% down but all depends on deal also rate between 12-16% 12month. If deal is good enough maybe able to get 10% down with private lending. I can also take and pay off 15k on 401k them borrow 33k but would only be able to take 5 years 130 a month. Any input on how I should structure my first deal? Any input would be greatly appreciated. Thanks