20% down with cashflow or 5% without?

[Jen Hunt]

My first investment, I am looking at 2 options.. I can co sign with my kid and he will be one of 3 renters in the condo, it won't cashflow but I can put just 15k down and hopefully the tax breaks will be worth the investment. Turn key in Utah doesn't cash flow.

Option 2, I found a property with a current lease in place for another year that I will have to put 44k down but it will cash flow 200/month and once the lease expires it will cash flow 350/month. 

Which is the preferred method? I don't think I can do both but I'm looking into it. THOUGHTS?

PS I'm a realtor so I can use the commissions toward lowering what I have to put down which helps and I didn't include that in the math yet.