Cash or Equity In Today’s Market?

[Thomas Dunsmore]

My wife and I are looking to buy our third home in the San Antonio so that we can rent out our current residence and have two investment properties. 

One would be cash flowing about $350 and the other a littler over $1000. 

My question is whether or not it is wiser to start paying off our existing mortgages sooner or stock piling this cash to buy future deals especially if we see a drop in real estate prices because of what is happening in Ukraine/Russia or in the housing market in general. 

Just curious what other investors thoughts were on this as I am learning and would love to know what others would do. 

Thanks!