Need advice on low down payment for conventional loan

[Jonny Abramson]

Does anyone have any advice on how to purchase a 3 unit with 5% down on a conventional loan when you don't actually plan on living there? My wife and I want to make an offer on a rental property but we already have a mortgage on our house. We don't have enough money for the 20-25% down, but don't want to miss this deal. Is there any way to make the 5% work in this scenario? What is the proof the bank needs to show that you are living in the home??