Selecting terms for a loan

[Kevin Larson]

I just had an offer accepted on two duplexes.  This is my first purchase.  I am now talking with a mortgage broker who is presenting me several different loan packages. I am putting 25% down each duplex, looking at a 30 year fixed.  I would prefer to try and cash flow as much as I can on these properties.  Is it better to spend money on points ( the way I understand it a higher closing price ) to get a lower interest rate say 4.75%?  Or should I take a a higher interest rate and pay less in closing costs?

Ex:

4.75% P&I - $245  Points cost $1172

5.00% P&I - $252  Points cost $703

5.25% P&I - $259  Ponts cost  $176

Thank you for your advice and time in advance.