Most would probably require you to refinance the first and even then 80% may be a stretch - most I see are 75%.

During the recent period of low interest rates I acquired some rentals with a 15% down payment in order to stretch my cash further toward down payments on additional properties.This helped with the down payments and my math showed that even with a little higher interest rate compared with 20% down and the PMI until I was able to remove that this would still be the wiser choice. 

@Dustyn Perkins I would stretch to keep all the rentals if it were me.

. $25.99 Matbeby Queen mattress pad/protector - https://www.amazon.com/MATBEBY-Mattress-Breathable-Stretches...Meh.

I apologize for the delay and I hope your deal went smoothly.William, the only way I see that being possible to get someone to lend is if you have very strong contingencies for the return of EMD that stretch the full term of the contract, as well as a personal guarantee on the loan amount. 

Seems to be in the home stretch for city wide approval. 

You're better off.If you want to actually own an asset, start focusing on the quality of it and not think about how to stretch yourself to get into the barrier of entry.

So I do want to be realistic and not stretch myself too thin here. 

So to do this to scale where you're a lender with 4 - 6 of these loans going at once you'd need 750k - 1 million and you'd still find yourself out of capital for stretches. 

I live on LI going to NJ is a stretch for me.