More equity or less money down on my first purchase ?

[Mehmet Eksik]

I am buying my first property for rental income . It is 4-plex . I have couple finance options. The first one Is putting %10.5 down 4.62 interest rate no seller concession . So I am paying 37K out of my pocket with %10.5 equity . The second one is %5 down %5 intest rate with 3 percent seller concession total 21K down but only having 3% equity . With the second option my cash and cash return higher but my cash flow is $210 lower per month . And I feel I am wasting money for having only %3 equity. Which route should I take , any input would be helpful .