Buying a rental, looking for downpayment financing ideas

[Rob Couch]

Hi all, 

Still relatively new on the forum but have listed to a bunch of the podcasts  We (my wife and I) sold our first flip last month and now looking at a buy and hold property. 

The house we are looking at is in good condition and a great location, close to the University of Notre Dame so lots of rental options like student/visiting professor/short term for sporting events, etc. Typically we would be looking for a BRRRR type house but the prime location is very appealing. We are looking at doing an off market deal with the current homeowner, we should be able to pick it up for around $200k. My question is about downpayment, we have the cash to do 20% but would rather save that for buying flips for cash. We are opening a HELOC for flips also, so we would have quick access to that money if we needed it for a flip, if we had to put our cash in as the down payment. I'm just typing to figure out a way to not have to be out of pocket with so much of my own money. I don't think the seller would want to do a seller financing option, they want to be done with this property and will need to qualify for a mortgage on their next house. If I brought in private money I would probably be paying a higher interest rate than my HELOC. I could bring in an equity partner but then I dilute my cash flow. Am I missing something, or do I just need to bite the bullet if I want this deal?