Financing a $56k SFH

[Michael Osborne]

Hi, my wife and I are purchasing a rental for $56k in the Atlanta area and are trying to determine what the best financing options are. The house is currently rented for $775 a month and the tenant wants to sign a 24 month lease. Taxes and insurance will be about $120 a month. We have enough cash to purchase the property but would prefer a loan so we still have access to our cash if needed. A mortgage seems to have too many fees associated with it to make sense, also there seem to be limited options on a $40k loan. A personal loan has a relatively high rate and very short repayment window which kills the cash flow. Are there any other options I am not thinking of?