(Financing) Buying a home to use current home as rental

[Chris Burnett]

Hello!  I am just getting started in real estate investing (no deals yet) and have an idea on how to get started but wanted to hear your thoughts....  

I currently live in and own a home that had previously been a rental property (I believe for 10 years).  I am thinking about buying a new home to move in to and holding the one I currently own as a rental.  The obvious issue is coming up with a down payment on a new home without any equity from the sale of my current home.  The second (and maybe more tricky) issue that I foresee is securing financing on a new home.  I am hearing that lenders will require 2 years of occupancy on a rented home before they will approve financing for the next home.  Does that sound right?  Any ideas on how to get around this?  Again, I am new to this and am open to suggestions.

Thanks!