In the vaguely unlikely case that the cap rate and deal is real and there aren't any significant "gotchas," 25% down should be easily doable.

@Deborah Wertz, depending on your price point and what you’re looking for, I have a few areas that I can recommend in Florida and can also recommend you to realtors in those areas as well to assist you with your search.

Depending on your state laws you may have a case just based on the 54 day timeframe if you have proof of that.

It depends on the type of loan you are applying for.

The terms of your mortgage and interest rate will remain the same and no refinancing would be required.

Will it impact the rental that depends on the area.

It is going to be a VARIABLE rate and is typically higher than a cash out refinance. 

What is a good and or acceptable amount of money to have saved up before buying your first rental property I'm aware this can vary depending on the state/area but is there a rule of thumbThank you ahead of time 

The lot with the house on it sells for $550-900k depending on location, house size, etc. 

Short term rentals usually price best 65-70% loan to value but if the cash flow is very strong to support a higher rate up to 80% is still possible these days (not common though).Best of luck.