Also, is there a way to fund the down payment since I don't have 60k to put down?

@Gabrielle T.There are lenders willing to loan up to 50% Ltv as an unsecured loan against the property.

Should I focus on just securing funds for the down payment and closing costs or should I be concerned about creating some sort of reserves for said rental property (to account for any vacancies and expenses)I assume I need to make sure that in the event I cannot rent out the property we are able to cover the expenses relating to this house in additional to our own personal mortgages but I’m not too worried about this (please let me know if I should be worried)Outside of my mortgage and some credit card debt which will be paid off by the end of this month I do not have any other debt.Are there other factors that I should be considering?

So here are the numbers....Property sale price is $11M (50 unit built in 2017, 98% occupied, rents on par with market)Rental income totals $860K (rents plus all fees and garage rentals)Expenses total $240KAble to secure a 75% LTV mortgage at 4.85% (30 yr amortized, 7 year then balloon) coming to $522KThis leaves $100K for the year. 

They lend from a High Equity Fund from Private Investors.

Do you still have cash, lines of credit or other funds that you can use to get your next deal in? 

But rather than a third party grabbing the house at a discount, the borrower can, and must obtain the funds and show they are on the borrowers account, and then the mortgage is simply settled. 

This all depends on if you need the funds out of your current flip before buying a second.

If the funds aren't there to justify the change then you look at the next use that makes economical sense and is allowed with zoning.

However, I am finding through my talks with some lenders that, since I am still relatively new out of school and have multiple student loans (although I have great credit), my saving grace in terms of getting a loan to fund my first deal is the salary my day job pays me.I know that real estate isn't a get rich quick scheme and that I will probably have to stick out my day job for a couple more years, but at what point do you see banks, lenders, etc. start to give you loans to fund deals without a steady stream from a corporate job?