I think you have to weigh that option against several things. How stable are your jobs? How much of a personal emergency fund do you have? Etc.
Reddit talks a lot about BRRR but my 1st rental was an assumable loan with 10k down. We took over payments and just painted, replaced a fridge and dishwasher, cleaned up the yad and rented it out. Spent years paying down that damn mortgage. Finally with it paid off, started fixing major stuff and rehabbing 1 room at a time. The economy crashed in 2008 and I was able to rent it out for a little over the 30 year old mortgage amount of $850. I had flexibility no other landlord did around me. I hired guys for rehab work when nobody was working. I was cash flush. Fuck the banks. They wouldn't cash out refi because everything was panicked. I just kept on with my little fix up plan.
Renter moves out. I replaced a bathroom and rented higher. Renter moves out a year later. I replace the siding and windows with cash. Rented out even higher. Now at $1300 and looking to get to a place where I can convert a small garage to a 4th bedroom. Rent after Reno should be $1600-1800. If everything tanks I can rent for $1000 or even less.
Flexibility has always been my goal. At some point I took out a HELOC on my primary for $50k. Bought a small 844 sq ft house in all cash. I'm now repeating the process but much faster. The house has never sit empty more than a month while I was working on mini upgrades. It's now worth easily 2x what I paid 7 years ago. I can either sell it, get a cash out mortgage on it, or get my bigger place a cash out mortgage. Or a HELOC on either. I just inherited another and am doing cosmetic updates (mostly) in all cash.
I still have a primary mortgage balance of $57k. I'm starting to think that I want to refinance and not cash out to lower the monthly payment. Less payment, more overall stability, less risk. It will free up cash to float any of my rentals should I ever need to.
Flexibility and stability are on the other side of leverage. Start small or with a super great very distressed owner who wants out for financial reasons. I don't want to be totally leveraged. We've had an 10 year run up. I'll take my stability over BRRR any day. That's my 25 year history with REI. It's way different than most here. And I sleep better for it while looking for my next deal with nothing more than a 50k HELOC and some cash unless I flip up one of my properties.