Trying to buy my second duplex

[Ryan Grinstead]

I have submitted an offer on a duplex for 30K, my cash on hand is around 5,000 and was thinking I was going to get 5% down but now the banker is telling me that it would be 15% and would need almost 10,000 in reserve cash to account for 6 months in payments for my current duplex and the one I am trying to buy. This is also not including closing costs. I can get an extra 3-4k from family to help build reserve cash, but I am not sure that will be enough. I have a few questions regarding this possible transaction. I have already used FHA in my first property.  1. Is there a way to get 5% down on this property even though it is a duplex? 2. If not, what are some other ways to finance this deal?