Colton
I have a couple questions that will help you come to the answer.
How well are you with fixing and repairing homes?
Are you paying cash or financing these homes and or rental properties?
If you are looking to purchase 2 properties make sure you can get financing for both before venturing into the first deal if you are seeking loans on both.
I would suggest to keep your eyes open on a foreclosure or short sale if you are very handy and like to fix things up. This way you can customize your home and save a lot of money while doing so.
It just depends how much risk you are willing to take on if you want to get into the rental property/landlord business.
Always make sure you crunch the numbers, Taxes, Insurance, HOA fees, on any property you will be getting into to make sure you are cash flowing. if at the end of the day you get a rental property, but aren't making positive cash flow then it's not worth it. I typically look for a 15-22% annual return on all my deals!
Happy House hunting.
Michael K.