Buy Cash then release equity?

[Dan Clarkson]

Hi everyone,

Been lurking here for a while - but time to get some of the forums advice!

Context: We're from the UK and all previous investing has been done in that market. We're about to get into the US market and potentially buying a single family or duplex in Austin. We've not been in the US for a very long time but my credit is good and I'm able to get a mortgage without any issues.

Question: We are lucky enough to have cash to buy the property outright. My question is, should I mortgage the purchase in order to set it up for a Buy and hold with debt paydown etc - or should I buy cash to minimize costs while the rehab takes place, get tenants in, then get an equity release loan on that property in order to move on to the next investment and have the property then set up in the same way as if I had initially got 

The property is around the 200k mark. I'm in the Bay Area so this is an out of state investment and I'm considering using a turnkey service -  I would really appreciate any input from you all. 

Thanks in advance,