Can I buy an out of state investment property (Airbnb) 15% down?

[Frank S.]

I’m located in New York and would like to buy an investment property near a Florida beach . The plan would be to rent the beach house out on Airbnb. Is this possible with only 15% down ?

Also in your experience, how many months does it take until the property is cash flow positive ? How much reserves should I set aside ? I’m primarily looking at smaller single family homes near beaches that aren’t currently used as a short term rentals.