Starting Out: Advice on which option to take from a Refinance

[Ashley Kroft]

Hello BP!

I have a dilemma on which direction to begin first. My mother-in-law wants to help my husband and I on our first real estate investment purchase. 

She is offering to refinance one of her homes that is completely paid off. We are thinking she could get around $175k - $198k. 

I live in El Paso, TX and would like to invest close to home first before venturing in long-distance. If you were me, just starting out, first property ever, would you use this money to find a BRRRR deal or use this money for possibly 2-3 properties for down payments?

Or maybe there is another option to consider? 

I want to make this money go a long way since both my husband and I are entrepreneurs and do not look good on paper. 

Any advice is much appreciated. Thank you for taking the time to read my post.

Ashley