Those with a higher risk tolerance, like myself, will opt for the 30yr to maximise growth and long term higher returns.

Over time you will learn what works best for you and your risk tolerances.  

@Kevin Moules my recommendations truly depend on your budget and your risk tolerance.

FHA only requires that  you live on the property for 12 months, just enough time to tolerate that situation.

It just needs to work for you, your goals and your risk tolerance. 

This is also personal decision based on individual risk tolerance. 

That's the 'safer' but more costly way to go.Which you choose all depends on your risk tolerance and how well capitalized you are.

@Lawrence Eiseman There are many factors to consider: Are you buying the land to hold, flip, lease or build also what's you're risk tolerance.

With that being said, you can get the answer to your question by process of elimination, i.e.. your all in price point, risk tolerance, how much of a return you're comfortable with, etc...

Many would not have had the required discipline and sunk even deeper.My wife and I have a very low tolerance for debt and though we have utilized some borrowed funds to grow our portfolio it's very small compared to what some think it should be.