How to start a second investment

[Joel Mayer]

So I am still working on finding my first investment but I am wondering how the best way to start the second investment would work. For my first deal I am looking for a live in duplex or similar multifamily setup for around $250k or less. I just want to make sure I fully understand the process of starting a second investment after that. Would it be wise to take out an equity loan on the first investment and use that for a down payment on another property? Or would I be limited because of financing based on my income to debt ratio? Would I have to find another method of financing the second deal like hard money or private funding?