Cash available - buy single families or wait for a multi-family?

[Whitney Simon]

Hello!

Background: We are just starting out with real estate investing and bought our first investment property last October (a short-term rental that can be easily transitioned into a long-term rental if needed, but it's doing great as a STR so far). Our goal is to buy and hold. The BRRR strategy is one we'd really like to utilize (did this with the house we live in, actually, and it REALLY paid off), but we aren't in a position for a major rehab at this particular time in our lives (cosmetic or minor fixes though - sign us up!)

Question: do we use the cash we have for 2 more single-family homes that we can rent out and gain equity in over time, or sit on the money and wait for a structurally-sound multifamily property (4-plex?) to come along (they are hardly EVER available)?