I need help with a purchase of an investment property

[Barry Vaughn]

We have been property owners for 3 years. I did a 1031 exchange to purchase 2 properties totaling $260k. We have a total of 5 properties and are looking to add more. We have been looking for the right properties to purchase and found several. Question is should we use cash to make a down payment or use cash out refi on existing property to purchase new properties. Thanks