Private debt facility: how would you finance your future acquisitions?

A question for anyone who's financed acquisitions before. Would you: Raise debt deal-by-deal, sized and structured around each target as it comes, OR Put a large committed acquisition facility in place now, and draw against it as deals close? And more broadly: which lender types would you go to first (banks, private credit, unitranche, mezz)? What would you push hard on in the term sheet? And what's the one thing you wish you'd known before signing your first acquisition line? What are the pros and cos of both approaches in your experience? Curious to hear how others have approached this.