creative financing for second property- first rental

[Brandon Bitz]

I am looking at getting in to the housing market simply because I foresee inflation and would like to not get left behind. f.o.m.o? possibly. I currently own a home worth about 400,000$ that I owe 80k on so I have appreciation to draw from. Technically I could refi and pull enough cash to outright buy a house in a different state. This would be my first rental. Buying cash would give me an edge in buying, it would also give me one loan, but I don't know what I don't know. would I be missing out on tax benefits? other benefits? In my situation what are the smart moves?  is it just better to get 20% down? I read the brrrrr book and got interested in investing but am not going to try to burrrr my first both out of town and in a market where even pro's dont know who much things will cost next week. thanks for any advice