Buying Our First Condo

[Michael Barry]

We are considering buying a condo.   We don't plan on living there, however my son would live in for the the first year or so, and then we would either sell or rent out. It doesn't appear that we could classify this as a second home (it's only 40 miles from where we live).  If we didn't pay cash, is our only option to get an investment property mortgage?  We don't know the best way to approach this.  We are prepared to put down a substantial down payment, but rates look high for investment property.   Any recommendations on a way to approach buying