Buying investment property with Convetional Financing and a gifted down payment

[Daniel Rubenstein]

Hey all,

After almost 2 years of reading books and being scared of making the jump, I have finally found a property I think is a good choice for a first investment, and I am ready to take the plunge.  I was hoping not use any of my savings I have set aside in an investment account for the down payment.  My plan is/was to borrow from a business friend the approx. 30K for about 6 months at %5 interest (over the next few months I will be bringing in about the same amount in some business deals-to pay him back).  The problem is, I was just informed I won't be able to get a conv. loan on an investment property if I am using a gift/loan for the down payment.  

Does anyone have any tips on how I can get around this restriction? Or any other tips for coming up with the 30/35K for the down payment (without using my savings)??

Thanks!!