Loan of $126K to $157K to start rental investment?

[Carl Talley]

I am almost ready to purchase my first rental. The way I am doing this is by putting a mortgage or ELOC on a piece of property. I believe that I should be able to get between $126K to $157K. Now here is the question, would you use this cash as a down payment and buy multiple homes, or buy one or possibly two homes for cash? and how would you pay off the original load and grow the investment?