What is my best strategy to start STR with $1M cash?

[James Pearce]

Hello, new to STR and selling my business. I want to invest $1M into real estate. In my mind, I want to buy a near-beach/ beach front condo/house with cash and use it as my cash flow. Since I won't rely on this cash flow I want to snowball it annually into purchasing more properties.

My question is, is that the best strategy or should I use the $1M as a down payment and finance more properties from the start? 

Curious what the best pathway is.   I've leaned towards cash first and sort of wait out the high interest rates, and then possible refi this first property in a few years.

Thanks!