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If you have 1 property paid for with cash, it really hurts when it goes vacant. That is your only source of income from rentals. But if you have three rentals that have loans on them, one may go vacant, but you have two more that are bringing in whats good interests for personal loan. When you have multiple rentals, you also have more diversification.
If you happen to have one rental, you are more susceptible to neighborhood changes, storm damage etc. With multiple rentals you have less of a chance of all your properties being damaged or hurt by other factors. You actually lose less money when prices go down with multiples properties. I know that may not make sense at first, but consider this. If you buy three houses below market value for 100,000 (they are worth 125,000 when you bought them) and the market goes down 20 percent.
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