Purchasing duplex from family member, conventional

[Andy Mink]

Hello,  New to BP and have a question regarding acquiring financing for an upcoming investment property purchase.  Property is a duplex, currently fully occupied, and will have a sticker price of $100,000, (thanks dad).  The appraised value for taxes is about $180,000 and I assume the bank appraisal will be around there somewhere.  There is no interest in creative financing options by the seller.  The property gets $1900 in rent and probably cash flows $600+ a month.  Great rental history.

My question is that will I need to have a full %20-%25 down for a 30 year fixed rate loan including closing costs etc, or because the loan to value will be low could the total down payment needed be lower? We have already purchased our first property, a 4 unit FHA loan that we occupy / rent. We are planning to buy the duplex and hold it for rental income. Additionally, my spouse has about 30,000$ in student loan balance that we were wondering if it could be paid off and wrapped into the house loan to save the $330 a month student loan payment? Our goal is to increase our monthly cash flow and save for future rental property investments or house flips down the road.

-Andy