Convince me if this is a good deal or bad

[Azeem Esack]

Hello bigger pockets community! A little background. I am new to the real estate investment world. I currently own one rental property which I purchased around $250k (new construction) with 20% down. I have saved a year for my second one,however the more I get into it the more I feel like I am not sure as to what my next purchase point should be.

Lets say theoretically I save $24k. What purchase point for a rental property would you look at? Does it make sense to put down anything less than 20%? Do I refinance my current property to put down more on another? I know that I am currently not looking to do any major reno to a place. I am just not sure of this next step?