So paying off our primary residents wouldn't be nearly as advantageous from a tax write off nor a monthly cashflow perspective than would be paying off one of the rental properties (or acquiring another one).Hope that provides some additional perspective. 

I had acquired an existing long-term tenant when I bought the home, and just ended up selling it to the them. 

I was able to acquire quotes from 3 different companies in the area and will most likely be moving forward with Meternet once we get board approval. 

If not most likely you'll need to use a bridge loan to acquire and then stabilize and move into long-term financing.  

I'd try and strike a happy medium but please secure a lender on the back end first - at least a verbal okay and then get their opinion as you being to acquire properties to see if they will fund those deals on the back end.

So I was hoping to find out if anyone has ideas on acquiring such a large down payment or another way to find financing for this deal.

He currently resides in San Diego (staying after separating from the Navy) and is looking for a good, long-term tenant for his newly acquired property.  

I also acquired my real estate license, first for the knowledge that came with it but also for the connections and the commission on any deals I do doesn't hurt as well.

In Austin right now, I'd say our sweet spot is somewhere between $180k-$250k to acquire properties.

My post was not really a 'you can find 100's of good deals on auction.com and other online auction sites (Xome.com, Hubzu)', but rather an anecdotal account of how I acquired my 2nd property.