15-year or 30-year for rental property?

[Jameson Hooton]

Hey guys!  I'm new here, just trying to learn.

I've heard some people recommend getting a 15-year mortgage because it drastically cuts the amount you'll pay in interest.  (This is always advice given in relation to a primary residence.)

My question is - is that smart advice for a rental property?

On one hand, it would mean you pay less interest in the long run.

But on the other hand, it would mean less cash flow (possibly pushing it into flat or negative cash flow), and taking away the opportunity of using that cash towards purchasing new properties.

Is it smarter to get a 30-year mortgage so that you can leverage the extra cashflow into new properties which should produce a much higher return on your investment than the mortgage is costing in interest?

And, if that's true for rental properties, is that same concept true for your primary residence, too?  I'd love to hear your thoughts!