Pros/cons of getting 1st rental via a 2nd mortgage

[Shaye Steele]

I have been sinking $ into renting a place the last 5 years in Tampa Bay, FL. Finally got promoted enough to look for my 1st primary residence. Considering taking a 2nd mortgage to do my 1st rental at the same time, but uncertain about biting off too much at once. The numbers look good as long as I can rely on my current income, & I’ve wanted to own a rental for some time. However, I don’t want to get too far underwater as a beginner with little to no RE investing experience, even tho I know experienced professionals & friends that I could lean on. Has anyone gotten a rental & residence at the same time, &

how did you fare? What issues did you run into that you weren’t expecting? Or issues you were able to avoid? Rent prices here are just as much as a mortgage, & home prices are quickly shutting out beginner middle class investors like myself. I’m also unmarried so I do not have the benefit of combined income. Not sure whether to take a risk on getting 2 properties (1 of which should pay for itself), or just start off with a primary residence only, until I gain more knowledge/experience & capital. All thoughts appreciated!!