I'm 42 with a family, financially independent, and doing it right now. 4 of us are sharing 1 bathroom while we slowly fix up this house.

Are there banks or financial institutions that would grant a loan at less than 25% down, say 10% for someone with exceptional credit? 

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Remember, buying a property is a financial decision that should align with your long-term goals and comfort.If the new lender offers a better rate and lower monthly payment, it’s reasonable to consider that option.

Thank you @Dave Foster I look forward to my new venture and investing in real estate hoping to achieve financial freedom and enjoy my life with my kids and my beautiful wife that has a terrible debilitating autoimmune disease.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The floorplates and inefficient use of land (due to parking) make it difficult to create financially feasible and useful reuse projects. 

Also, I'm stuck with out-of-state investing which brings a whole series of risks with minimized financial upside (in my opinion) 

@Steve Englehart Cashing out an IRA or Roth IRA to buy rental properties has significant tax and financial implications.