Best use of cash -1 deal with higher Down or 2 deals w less down?

[Pras Palanichamy]

Hello All

I live in SoCal - Torrance.

My dilemma - Assume I have saved $150k in cash for REI

Option A - Do I invest the 150k as down payment in 1 deal ( say a duplex in torrance if I ever find one ) as a 20% down payment

or

Option B - Do I take a FHA loan (3.5% down) for Torrance duplex & set aside remaining of 150k for out of state investing ? Which would be a good decision in terms of ROI or cash on cash ?

[Option A gives me higher equity. What are the benefits of higher equity at this juncture ? Should I focus on Option - B which give me higher cash on cash return ?]

Please let me know your thoughts.