"2nd home" or "Investment Property"

[Jennifer Story]

Currently we own a home that we were intending on renting out since we refinanced and secured a great mortgage payment which would cash flow $3-400 per month . When looking into buying another the banks ask, well is this a investment property or a 2nd home? How as a new investor are you able to come up with the down payments that are required once you have a home already in your name (jointly),  as 2nd homes and investments home require so much down and a higher rate. I don't want to sell this property if it cash flows. I feel like it makes sense to hold on to it. However , we have essentially been house hacking if you will and want to continue that trend moving forward .Buying , living in it and adding value over a small period of time and then refinancing and renting it out . In between we would be looking at other small Brrrr methods that are coming on to the market. Any advice on a new loan without so much down?

Thanks so Much!