Best loan type for a 100k rental property? 30yr vs 15yr? Other options?

[Cam McKewan]

Hi, I was interested in buying a rental property worth about 100k what would be the best way to finance this?
It is located in Las Vegas and rents for about 1200 a month. Someone told me some investors these days are putting 40% down and then getting a 15 year mortgage. Would that be better than doing a conventional loan with 20% down over 30 years?
What strategy would make the best use of the current low interest rates?

Would my age of 30 years be a factor? With a 15 year morrtgage I would have the property paid off when I was 45 assuming I could make the payments.

Or would it be better to just make double payments on a conventional 30 year loan to be on the safe side. Would making double payments defeat the purpose of getting the low interest rate?

Thank you for any advice.