It's advantage is you are into a new project way faster than saving up for traditional 80% financing. 

@Trish DunnWhile I'm no fan of unsolicited texts, you can look at peer to peer texting platforms.

There are a lot of lender options out there, traditional lenders(DTI and income based), hard money lenders(short term, high interest rehab loans), private capital(Debt service coverage*DSCR ratio and credit based) and commercial lenders. 

Generally if you had a hard pull done on your credit (which happens when taking out traditional mortgages) your credit score will drop for a little because of that and then come back up in a few months or so.Best,Paul

I purchased my first property last year, a duplex, with a traditional mortgage loan.

Roughly $190K is financed through a traditional mortgage.

Is it best to just take out a traditional mortgage with 20% down?

Thisniant really real estate in the traditional sense but I’m buying a sailboat in Sausalito CA and plan to sail the boat up to Seattle WA, where it will be permanently kept.

@Matt ChestnutIMHO you're asking a legal question on a social media platform forum.

There are so many options here, but alternative or non-traditional options usually come from creating a strong network of friends, family and industry professionals.