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best approach for acquiring rentals

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If a new investor has around 300k to begin acquiring rentals, would it be wise to buy the first property ALL cash, and then draw on a LOC from that first property to buy the second ALL cash. Or just begin to purchase properties using as little as possible as down payments to conserve cash. I have heard arguements on both sides. Some say that lenders prefer the ALL cash LOC method as oppossed to the small down payment method. Any thoughts would be greatly appreciated!!!!!

Thanks....

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