Cash first or finance first?

[James De Silva]

Hi BP! Say I have a property that's 100k (including all closing costs etc). Say I could comfortably purchase this property with cash only.

I obviously don't want all my money to be tied down in this property, so I want to get this financed. But the question is, which would have a better outcome? Purchasing this property financed (20% down) or  purchasing this property with cash and then refinancing it completely with a bank very soon afterwards. 

The property in question is a duplex and already has tenants in it. I'm wondering if I finance later, would I get a higher appraisal value and hence actually recover my closing costs.