Question about mortgage paydown strategy for my first RE investment

[Dan N.]

I am about to purchase a SFH that cash flows just a bit with 35%-40% down.
Moving forward, I am deliberating between 2 strategies regarding paying down the mortgage (6.85%) and would love to hear more experienced people's opinions.
My long-term strategy is to purchase this SFH for a long-term rental, build equity, wait till interest rates go down, rinse and repeat.

STRATEGY 1

My monthly income allows me to pay a healthy chunk every month toward my mortgage, pay it off within 18-24 months and have more equity in the home once I decide to refinance


STRATEGY 2

Just let the rental income cover the mortgage payments over a much longer period of time

Eager to hear y'all thoughts.

[Joe Villeneuve]

2...always.  All you're doing with the first one is paying FOR your equity...not gaining anything.  Your tenant is already doing that for free.

However, if you need to put 35% down to get a minimum CF, you're buying a bad deal to begin with.