Loan for non-resident (no cash out opt)

[Martin Dal Farra]

Hi !, Im italian and currently living in Argetina, 
I´ll be starting my Real Estate investing soon , willing to grow my rental properties portfolio in the US. 

As im a non-resident, lending options differ from those given to americans. 
ie: 40% downpayment and I was told  cash out refi is not possible (for the time being at least). 

Ive been offered a 30y , 4,2 to 5,3% rate (40% down for a property price starting at 160K )

My question is, in a non-cashout loan, how do I plan for future 2nd home downpayment suposing good equity is built? (and Im willing to use it for new real estate purchase).

Ive been reading about home-equity loans for getting a "second" loan.. is this a possibility i could use in the future?

I have 180K cash so my idea is to start with two properties on two different loans (160K each property with 60K down on each). 
But Im also thinking to start with 1 property 160K bought full cash and plan to raise enough cash for a 2nd property downpayment... what do you think? Im a begginer so every idea will be appreciated!

Thanks so much!