Better to get one expensive property or a few cheaper ones?

[Colette B.]

Hi all! I have a set amount to spend on investment property(ies) and am weighing the pros and cons of getting one that's larger and thus, more expensive vs. a few small ones in the same area. Any advice? I figure the larger would attract a family, while the smaller studio/1 BR types would be for couples/singles. As a newbie, I'd guess the smaller spaces would be easier to rent, but having one more expensive place might be easier in terms of management. Any thoughts? Thanks!