It all depends on your risk tolerance.

Mostly all relative as to what your risk tolerance.

David Ackerman I think it all comes down to your personal level of comfort and risk-tolerance.

(Some lenders require 20%, but Fannie and Freddie allow 15%; just know that putting less than 20% down on investment or second increases your points cost by .5 and of course makes monthly MI become a requirement.)So, if you can tolerate relocating to a new primary, it might be best to go that route (meaning, make your current primary become your investment home).

I have a zero tolerance policy when it comes to evictions.

It depends on your financial status, credit, risk tolerance, or motivation.

The last thing you want is to be a slave to a property in a location you can't tolerate. 

@Michael Pelant in short numbers, based on your ability to see value where others missed it, your ability to buy at the lowest possible price, your ability to rehab it on schedule and budget, and your ability to sell quickly, and finally your risk tolerance.  

It is important that it is state specific and well written, but it depends on how much education you are willing to do on your own and how tolerant of risk you are.Look for local real estate or landlording groups.  

Once I feel more comfortable with my risk tolerance I will definitely use HM bc this loan has been a nightmare in paperwork and "red tape"