Types of Loans for First Time Rental and Steps

[Frankie Azhocar]

Hi all, looking to get some advice on what type of loan i should be looking for to buy a rental to hold. This will be my first investment property and I just want to get some insight on loans. I know there's DSCRloans and Second home loans, but what would be the best option for a first time out of state investment and where should I start on the finance end? Budget range is $150,000-$250,000. I have the 20-25% down in cash, but not sure where to start on the applying for a loan end. Do I need a pre approval just like I did for my primary? If so, how long are they good for? Any info is much appreciated. Thanks BP people!