buy another rental or.....?

[Joe Boggin]

im considering buying another rental or trying to start a business. here are the specs...

turnkey rental in the inner city list for 23k but will take 20k. the tenant of three years pays 625/month rent. property needs some cosmetics but the mechanicals are in fair shape. after taxes and insurance i would clear 500 a month with a ROI of 27%. (even if ROI is a abused term, allow it to exist for this post)

http://www.zillow.com/homedetails/934-E-Schiller-St-Philadelphia-PA-19134/10334768_zpid/

or i can invest a little over 12k in a transport service in an industry that im extremely familiar with. my family owns a funeral home and this line of work allows for several revenue streams. one revenue stream allows us to provide service for other funeral directors as a transport provider. if a mortuary from outside the area has a case in my city, they normally hire a local director (us) to remove,prep and transfer the remains to them for a fee. there is really no cap on earnings.

the rental is secure money that comes in every month without much attention. the business can warrant higher returns, lower start up but will call upon you whenever the need arises.

how would you approach this? what kind of questions would you ask?