The best approach to starting my investment journey the right way

[Jiminia Rhymes]

Hello, first time rental property purchaser here. If I have about $20,000 to spend should I attempt to cash purchase a renter ready home (it will probably need something done before I rent it out) that is selling for around $15000, or would it be more beneficial to get a mortgage on a $37,000 renter ready home (may need something done before I rent it out) rent it, pull the equity and buy my next property? Best option?