Quote from @Mae Galang: Very true! 

Fannie Mae’s 5% MF loans seem perfect for this even though I’d have to prepare a higher down.NJ State down payment assistance and a NJHMFA mortgage loan.This is enticing due to the $15k down payment assistance and additional $7k first generation program.

Some of the banks have auctions.I looked at property at what I call the Thailand Housing Bank GHB (think HUD or Fannie Mae).  

Quote from @Mae Galang: How was the $27,500 determined?

Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

There are limits to how many Fannie Mae (personal) loans you can have, which is 10 per person… so if you are married my first suggestion is to buy your properties in one person’s name to maximize  how many loans you can have.  

I see for Fannie Mae, investment properties, people can do as low as 15%.I'm wondering if rates are significantly different for 25% vs 20%.

Here ALL the guidelines regarding rental income if you need a nap:  Fannie Mae rental income

Non-QM loans are financing products that are outside of Fannie Mae/Freddie Mac and are non-traditional and because of that, they will typically have higher interest rates/points.

In fact, all owner occupied loans that follow VA, FHA, Freddie Mac or Fannie Mae guidelines require that the owners move in within 60 days of settlement.You can only buy now and move in next year if you get an investor loan.Yes they run about 1/2 point higher than owner occupied loans and maybe even higher than that compared to a VA loan.