Buying First Rental in Next Three Months

[Donna Brown]

Hello,

I want to buy my first rental in the next three months but I have a question about the financing of it.  I recently sold my home so I am without a residence.  I have cash to purchase the first rental but of course I do not want to use my cash because I know as a newbie that it is best to use other people's money.  Should I seek a mortgage for my first rental which will be between ($15,000 to $25,000) then access the equity to purchase the second rental?  If I do this, will it hinder me from buying a personal residence in the next 7 months?