You can purchase this with a low-money-down FHA loan. 

My husband and I are approximately 6-12 months out from executing on our first real estate purchase.

These are our first two rental property purchases.

Hi Thu - Congrats on your first STR purchase—so exciting!

I have had a long term interest in purchasing an investment property and I'm looking to be smarter about this.

This is more than enough to do PML's whether you originate or purchase from a broker is up to you.

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

@Jeff Ryan What was the purchase price of this MH?

With this being your first purchase, you may want to consider a property that's not being sold at auction. 

Understand Realtor (Agent) Fees- In Germany, real estate agent (Makler) fees are typically paid by the buyer and can range from 3-7% of the property purchase price, plus 19% VAT.- These fees are due at closing and are part of the overall transaction costs.6.