If you don't have the cash for a down payment, you can leverage equity from your current home:
Borrow against your primary home's equity to fund the down payment or the entire purchase. how to buy a second home to rent
Lenders typically want your total monthly debt payments (including both mortgages) to be below 43% to 45% of your gross income. If you don't have the cash for a
Expect to put down at least 10% to 20% for a second home, and often 20% to 25% if it's strictly an investment property. how to buy a second home to rent
A successful rental must generate enough income to cover more than just the mortgage.
Financing a rental property is more strenuous than a primary home because lenders view these loans as higher risk.