Welcome to the community and be ready for a huge amount of information at your finger tips.

With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....

Proportional leverage (like 27% LTV) isn’t specifically required, but if you don’t reinvest the full amount or fail to replace debt, the difference will be taxed as boot.

Investing this amount in passive deals might not provide immediate income, and you could end up waiting years to see returns (similar case in most investments.) 

They will look at the ENTIRE cost of the project and calculate what they can offer you in loan amount.

I'm a total newbie myself, but I've been doing an insane amount of reading and research via youtube etc. 

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Hi @Zhong Zhang I have used vacancy hacks over the years to get personal properties under 1% when turning tenants over. 3% increase depends on renewing or getting new tenants, when renewing tenants that's  a safe amount. 

(now, in my later years, I'm much more cash flow oriented - although I do still reserve a certain amount of capital for "value added" or intermediate term appreciation type investments).

If they are adjusting the amount they can lend because the margins are too thin or telling you the deal metrics are not checking out it is likely due to the expected earnings not being sufficient.