Financing Decision for 1st property

[Alan Curtsinger]

I’m trying to decide the best way to finance my first investment property. I plan on doing a long term rental within 20 minutes of my current residence. It’s a growing neighborhood with a hospital being built within 1 mile of my home. Price point is about 300k. 

I have a lot of equity in my home. Trying to decide whether to pull the equity out for a 25% down payment, or save hard for the next year and use that for the down payment. I have about 230k in equity and a DTI of about 13%.

I’m brand new to all this. I want to be really hands on with the property initially to start learning. Any thoughts or input is appreciated!

Alan