With current high interest rates, should I put $260K into one 3/2 rental, or two?

[Kenneth S.]

Looking for feedback on my particular scenario. I am selling an existing investment property because of the distance to where I live, and plan to acquire 1 or 2 investment properties closer to me. I will net around $260K from the sale, and I am doing a 1031 exchange. I am looking for feedback on whether or not I should put the whole $260K into 1 rental property or $130K each into 2 rental properties. Back in the good ole days of low interest rates, I would have no question and go ahead with 2 properties. However, with today's higher rates, I would be financing more. The properties I am looking at are 3/2 around ~1700-1800 sq ft and priced around $380K-$400K. I'm kind of leaning towards acquiring 2 properties with the hope of being able to refinance to a lower rate at some point in the future. 

Please share your thoughts and what you would do, thank you!

[Alex Olson]

More is better in my opinion but buy correctly - don't overpay. It's ok to break even for the first two years if you have to. Your tax benefits and wealth building will thank you!