In my experience, most lenders want 20 or 25 percent down from an investor. Recently, there have been some 10 percent down programs. Historically, of course, investors try to minimize their down payment by securing owner financing. Information is hard to come by. In addition, there is so much flexible financing available that the number of owner-financing deals has almost dropped off the table.
Rents are definitely up.
You might have to widen your search. The supply of rental units has been reduced substantially in the last few years. Much of the supply fueling the sales increases has been condos whose owners could not previously afford to sell, since they may have had to bring cash to teh table to cover their mortgages. Now that prices have been going up for 3 years, those sellers have poured on the market. If you can find a way to change your requirements with regard to proximity to Metro, you will improve your chances.