Considering first property

[Ram Wagle]

Hey fellow bp geniuses,

I am planning to put an offer for my first property here in st louis. I have narrowed down the 3 properties and want your opinion on which one wud be a better first property buy:

1. Property A: List 399K, 4 units (currently with tenants), 70 yrs old, renting out for 800 each and i believe all are occupied today. 

My thought process is - loan amount 319K (with 20 down), Per month -> P&I: 1580, Taxes and insurance: 541, additional expense each month:500 -> so with all these cf each month = 579

Am i missing something here? of course occupancy is at 100%; if i put that at 75%, cf = -221

2. Property B: list 295K, 4 units (current with tenants), per month -> p&I:1093, taxes/ins:377, additional, rent 650 each = 2600; cf =630;  with 75% occupancy, cf = -20

So considering the location desirability and everything else equal, which one is more desirable property? My rationale is with almost 100K less, i am getting similar cash flow with property B and that's a safer choice. Of course I am defn missing something like additional expenses (putting 500 on average each month) but i want to hear your opinion on this matter. 

Will appreciate any help, insight and suggestions on this. The properties are in st louis city and country.