Primary to Leverage as Future Rental - Financing Question

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Hi BP community,

I need some advice on financing and leveraging a soon to purchase primary residence to start investing in the local community. My goal is to move out in a couple years, use as a rental, and invest in the next property. I would like the rents to cover the mortgage at minimum, and to pay it off quickly. In addition to this primary/future rental purchase, I’d like to start purchasing other investment properties, so don’t want to lock up too much capital in this primary residence.

I understand there are numerous ways to finance, but initially I’m looking at conventional with the usual scenarios:

• 15 yr fixed at 10% (PMI of course included) or 20% and Heloc to leverage cash for next property
• 30 yr fixed at 10% or 20% and use Heloc

I’m having difficulty finding the best scenario to meet these goals and would greatly appreciate some advice, insights or shared experience. Alternative scenarios are welcome as well.

Thank you in advance,

Nina