It's still the same methods used for the last 5 years.

A significant down payment reduces the risk of default.

You'd have a payment of around $5500/mo, so you'd have to make sure that fits in your budget. 

Typically investment properties requires 15%-25% down payment depending if it's a single family or multifamily.

Don’t have another down payment saved at the moment but have some company stocks that will vest over the next few years that could amount to another down payment.

In addition, I had to pay an additional 1% down payment so that there was time for the loan to get transitioned to the final lending institution before interest accrued and exceeded the max approved credit limit before I had a chance to make a payment.

Also, you should be focused on constuction lenders who offer best leverage (usually those who will capitalize interest reserve &  finance a portion of the soft costs), lower floors on the rate since most banks tie their construction debt pricing to the fed rate, perhaps offer lower or no pre-payment penalty if the property reaches the permanent financing phase of the loan product before you are able to refinance and low or no required depository relationship outside of the actual operating ccount.

What I mean by this is considering how much your down payment returns to your net worth (appreciation, loan paydown, tax benefits, AND rent avoidance).

Hi @Felix Lilly,Your approach to buying your first property in the Vancouver WA area is a great start, especially with your interest in an FHA loan for its lower down payment requirement.

The other method is do a straight cash out refinance up to 80% where you can use it for renovation and allocation the remaining funds to invest.