Which financing is better for 2nd property?

[Mitchell Van Overloop]

My wife and I are thinking about buying another income property and are wondering which route would be better. We could buy a 2nd property as owner occupants and get a FHA loan which would get us the property for less down. Or we could use the equity we have - refinanced at $130k and property now is worth around $185-$190k. Which would be a better route since both incur a decent amount of debt and cut down on monthly cash flow?