I'm a Real Estate Agent at the coast of NC near Wilmington and a first time investor. I've located 2 completely different investments and wanted your expertise/opinions/guidance etc to help point me in the right direction on which one to pursue.

Option 1: Single family home in a superb location.

3br/2ba about 1,200 sq ft, 2 car garage.
Rent would be around $1,350/month.
Asking $169K, could get it around $165K. One potential struggling point is that this would not be a "fantastic" deal. Comps are anywhere from $160-175K so I'd essentially be paying market price.
I'd be getting a mortgage, 30 yr fixed at 4.62% for an investment property.
It'd cash flow at $326/month and 8% Cash on cash return, 6.9% CAP.
It's in a superb location/ properties don't last AT ALL and rentals are in high demand.
Oh and this is literally 5 minutes from where I live.

Option 2: Mobile home park with 10 units (I know little about this investment type)

Asking ~$250K and since these are single wides and I'm essentially buying the land with the mobile homes sitting on it, I guess it'd just be cash or seller financing. I don't have that much cash, but around half of that I could swing.
10 lots, 1 park owned home.
NOI ~$22,000/yr
This is about an hour from my home.
Lot rent and all expenses are already set up and in place, so this would be essentially buying it and it basically runs itself (comparatively speaking).

Exit strategy seems easier/more secure for SFH vs MHP would be more investor oriented/hopeful.

What would ya'll do? I appreciate your guidance and look forward to starting this journey on BP!

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1ST TIME INVESTOR, INPUT NEEDED FOR 2 DIFFERENT PROPERTIES

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