Needing input on how best to use my cash

[Patience Echem]

 I posted this in starting out but got no response. I hope this is the right forum. Still feeling my way around here. Before I sign on the dotted line, I would like to get ideas on the best use of the available seed money I have. I am a middle aged woman looking to get into real estate. Currently, I have $300K in cash that I want to use and buy a rental (SFR) property selling for $250K. My plan is to pay cash and wait until interest rate improves, then refinance and pull out $150k for a down payment on a second property.

I will like to know if this sounds like a good use of this money. I am hopefully, 9-10 years away from retirement, and plan on owning 7-10 rental SFR in that time frame. So, before I close on this house, I would like to hear all ideas on the best use of this money taking my goals to account.

[Joe Villeneuve]

Why are you paying all cash for your first property, then pulling out cash (and have to pay for it with interest) to buy your next?  That makes no sense.  Just split the money now when the cash is free.

Also, paying all cash is usually a loss to you since the cash you spend is your cost.  As long as the property cash flows positive, the tenant is buying the rest of the property for you.  $300k should be buying you $1.5M worth of property value.

The the main role of the initial cash flow you get from a property is the recovery of your cost...the cash you put in.  The more cash you put in, the more cash you have to recover, and the longer it will take to do this.