Noob question - multiple websites

Hi All,

Just a quick question if anyone can advise.

I run a WordPress village guide website and have recently purchased an old website from the village (but well outdated in PHP and HTML)

Would I be shooting myself in the foot running 2 WordPress websites or should I just divert 1 to the other and focus on my one?

The one I purchased is a much older domain and has alot of valuable backlinks that I'd like to make use of - but just wanted experts opinion on this first.