I'd add one thing that appears to get lost in this conversation - The lender, of course, will ask if you can afford it. One should always also ask one's self if it is affordable.
Your post hits (and your next one) upon an important point - That all the advice shared here is useful, but only in the context of one's personal circumstances. Anyone claiming that one particular way is better than another is giving poor advice as you simply cannot do that without a clear...
A sensible, and honest post - I think some people get in to BTL as a way to have, effectively, someone else pay for an asset for them and expect the money just to roll in every month. Being mortgaged up to the eyeballs and expecting the rent to cover all you costs, all the time is a risky...