Personally, I have had three dogs at one time and things were busier and messier for us. We have 4 people in our house, two of them kids who don't want to help with animals much. When our older dog passed, we just stayed with the two we had left. They are wonderful, but I don't see us getting a third or more. I want to be able to take care of their vet bills and everything else.
So you should really ask yourself if you can spend time with and financially care for all 5 dogs. Not to mention cleaning up after them. The flying fur in the house is the hardest for us to manage!