Do you have enough cash reserves for the negative cash flow for a couple of years? 

Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes. 

This way we reduce our monthly legal expenses and have cash reserves to weather the next few quarters during the virus.

@Havital Miltz thank you for confirming my suspicion.

Condos are also starting to only accept 20% down with reserves, not a good invest strategy at the moment.I'd recommend you stay in Tampa, Sarasota, buy some SF, duplex that need some lipstick and loving, put a tenant in there, and then get a heloc and repeat.

Lenders are always doing this and are doing it a lot right now as lending tightens and reserves are being bolstered for what many think is going to be a real estate recession. 

1) 20% down will allow you to do a conventional investment loan, but you will have to either:- Qualify with the new payment + your current payment- Lease the property out, allowing the lender to use 75% of the monthly rent to offset the mortgage (confirm with a lender).2) You could also do a DSR 20% down loan, but the interest rate will be much higher than conforming rates.3) If less than 20% down, you could:- Do a 10% 2nd home loan as long as the new property is at least 50 miles from your current home or near a qualifying vacation spot (confirm with a lender).- Do a 5% down conventional mortgage if you plan to rent out current home and live in the new one for at least 12 months.

And, since we don't require reserves for this program, once we add in the 10% down payment, only $13,500 would be needed to close.

I keep a very healthy amount of reserves to avoid using my insurance unless I have a catastrophic issue.

If your objective is to reduce your own tax burden, you are in essence confirming they have no valid AP claim.