That is a tough question. I'm not sure I would do either with no experience. What do you want to accomplish? If you're looking to get animals I wouldn't want to rent land and then move the animals once you bought.
Many factors make a straight answer to this almost impossible, and just as you say, it depends on the price of and availability of funds. If any farmer had a choice, then it would be to purchase and put it into good use when ready.It depends on what you're hoping to do and the price of land in that area. Renting can be a great option, but expect there to be some rules, some of which you might not like. See if you'll be the only person using the land. I had a friend who rented. He was out plowing his field when he heard gunshots which worried him as he had a young family. The person who owned the land decided to go hunting on the property. It was quite a shock. In my area, land is cheap so it makes more sense to buy, then start slowly building things up from there.