paid all cash, should/can I take out a loan?

[Chad Deberry]

Hey guys, first post here at BP although i've been following for a while. Confused about which way I should go with this property. Any feedback is appreciated. 

I bought my first rental property two months ago. It's a 2b/2ba townhome with no hoa or fees. It was a cash-only buy listed for $43,900. The comps in this neighborhood were between $46-$54k. There was already a renter in there paying $650 who really wants to stay. I ended up getting the place for $37.5 which seemed like a really good deal giving me a ~13% cap rate. There were some minor cosmetic work to be done along with the wood siding needing to be replaced (estimated $4-5k on avg from various contractors). Anyways, not sure if I jumped in too quick being its my first deal and all. I paid all cash. My question: should I take out an equity loan on the place? If so, what is the best way to go about it?