If you are a foreign national, the US lenders are requiring a minimum of 35% down payment on loans.
That being said, it is very easy to find quality rentals in high demand areas that will carry a break even or positive cash flow. Vacancy rates are running between 6% to 9% depending on the area and price point. Myself, I tend to favor small single family homes in good school zones which rent quickly. I also tend to keep my rents on the low side so that I can pick and choose my tenants. It is much less expensive to get a good tenant in at a lower rent - they tend to stay longer and keep the property in better condition.
Also I think it is an excellent time to be purchasing property and I am putting my own money where my mouth is. :) Our inventory is starting to shrink and the past two months our sales have been higher than at any time in the past year. I have over 25 years of local experience, so if I can be of assistance, please feel free to call me at 702-596-7821.
I would start there and travel around these communities. If I can help, let me know. Also, lenders only offers second homes to foreign nationals with 35-45% down and the down payment hast to be seasoned to 30 days in a United States bank account. I have a French investor wanting to buy and this is making it hard.
You can usually find cash-flow positive properties with 25% down and $200k or less purchase price. Or higher in price with special amenities such as being on a golf course which demands a premium in rent.
I noticed you said maximum of 25% down. With the tightening of the money supply for loans and the fact that you are a foreign investor, I don't think you will find a loan product in the States that will allow any thing less than 20% down for your situation. Let me know if you some further guidance or would like to buy.
John A. Brassner, MBA, Realtor
Windermere Summerlin Real Estate
Residential and Commercial
Cell Phone: 702-808-9816