Finance 2nd property

[Cory Yancy]

I currently own my home ($200K value) and looking to purchase a 2nd home with its equity.  I am looking to pull $160k out and to purchase my 2nd home for cash.  My question is will i be able to repeat the process with my 2nd home since i will own it, so that i could purchase a 3rd property. Or should i try to get financing and put 25 % down ($40k) on the 2nd and 3rd rental.

Thanks for any suggestions and help 

CY