10 year VS 30 year Mortgage Starting Out

[Thomas Edwards]

Hello,

My Name is Thomas Edwards I am currently a college student looking for advice on investing in rental properties once i get out of college

I am looking for information on what is best for starting out on a small rental house, A 10 year mortgage or a 30 year mortgage provided the information that i know that with the 10 year the amount per month is going to be more than the 30 year but with the 30 year you end up paying more.

Say the place i'm looking at investing in a 70,000 dollar home that with a down payment of 20% and a 30 year mortgage the average monthly cost comes to around 390 per month including insurance and taxes.  OR the same 70,000 dollar home with a down payment of the 20% and this time a 10 year mortgage and the monthly cost of 650 per month including taxes and insurance.

Looking at other rental properties in that area i can expect around $800 per month in rent for that place. 

My question to you is would it be better to go for the 10 year even though it cost more per month or should i go with the 30 year and make more money off of it each month. Please let me know your comments and opinions.

Thanks, Thomas