First, you aren't permitted to borrow funds, unless those funds come from a piece of real estate, to purchase an investment property with a conventional loan (meaning Fannie/Freddie loans).

Are you looking for conventional lenders, portfolio lenders, HMLs?

Our congregation has about $30,000 to put down on the home but the monthly payment would still be out of our price range if we went the conventional bank loan route.

Since inventory is so tight in Colorado I would look at renovation financing is well.

You can get a conventional bank loan, a partnership, private loan, etc.

Another recommendation would be to get a multi unit 2-4 unit investment with an FHA or conventional loan.

Or would the additional inventory push rent prices down, and thus, home values?

I think everyone has their own criteria to fit the specific type of investment they are looking for but for us it's population growth and inventory of buildings larger than 8 units.   1- East Walnut Hills  2- Norwood3- Evanston

It brought up a few questions the first being;Do I use the cash I have saved up to implement the BRRRR strategy vs buying multiple homes with down payments and using conventional financing (possibly looking into 203(K))? 

Here is a hypothetical scenario for the borrower:Assuming the loan is against a 2-3 family rental bought with cash.New investor, first investment propertyOwned by an LLC (single member)Want to pull cash out for another deal.The single member would qualify for a conventional loan (good credit, low debt to income etc.)