Hi everyone! I’m trying to figure out the best mortgage strategy for rental properties. Personally, I typically put down 20–30% and go with a 15-year fixed mortgage since it offers lower rates and I can comfortably cover the monthly payments. However, I know that a 30-year fixed often provides better cash flow due to lower payments, even though the rate is higher. I’ve also heard that some investors choose a 30-year fixed and then pay extra each month to reduce the total interest—almost like mimicking a 15-year fixed—but I’m unclear on how that saves on interest given the rate differences.

So, I’m curious: Is the 30-year fixed more common, or would you stick with the 15-year fixed if you can afford it, especially when you’re only buying 1–2 properties a year? I’d appreciate any insights or experiences you have. Thanks in advance!