You can also try to negotiate with the seller to lower the down-payment.

I feel like if the market has a downturn right about the time when my arm expires I’ll be facing lower rents and higher interest rates at the same time.

You can lower that with a larger portfolio or multi family properties.  

@Brian Murray a lender would be best equipped to handle this question, but for most secondary loans (Fannie/Freddie) that I've seen you'll need to go FHA to take advantage of lower downpayments with an owner occupant situation. 5% down conventional is typically single family residences.

Conventional requires around 680ish fico and a lower DTI.

I have access to roughly $40K for a down payment Thank you in advance BP community!

I was wondering if the process takes a bit more time if your down payment is lower.

I refinanced my FHA first mortgage in February to get a lower rate, but that did not allow cash out. 

Income tax benefits: You can take a dividend income which is taxed at a much lower income tax rate. 2. 

I'd make a stink of the repairs and ask for a lower purchase price.