How to get a deal with 3.5% down instead of the standard 20%?

[Louis Porter Jr.]

I purchased my first investment rental property (a 2/1 in Riviera Beach FL that is renting for $1,075 a month) in October of 2018. I spent nearly all the money I have (All in at a little under $35K) on getting that property, but now I want to purchase my second investment property but I only have $15K left. Is there anyway that I could get a loan where I would only have to put down 3.5% of the values of the property instead of the typical 20% for investment property? I know the 20% will get rid of PMI but I am wondering are there any sources that would do a 3.5% down on a investment property? Any help would be greatly appreciated. Thanks!

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Originally posted by @Louis Porter Jr.:

Thanks for answering, Jay. Do you know why the 20% is the "magic number" for investments? I am just curious. 

TO PROTECT THE BANKS INVESTMENT IF THEY HAVE TO FORECLOSURE, THEY HAVE EQUITY TO SELL.