Best way to spend $300K

[Patience Echem]

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. May 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.