purchase new rental vs. renovate property that has no mortgage

[Christina McGee]

We purchased a single family home in a tax auction to rent.  We own the property  out right. The property probably needs about $15,000 for renovation. Our realtor sent us another single family home that we will have to mortgage with a $9,000 down payment. This home cost $45,000.  The down payment would be taken out of the renovation budget for the rental property that we currently own which is a majority of the renovation cost we would take from savings.  Is it wise to purchase an additional single family home that we would mortgage or should we focus on renovating the rental property that we own? We can't do both because the money is coming from out savings.  Do you have any recommendations that we should consider that would allow us to obtain both properties?