Should I invest in ROI 16%(15yrs) OR 20.2% (30yrs mortgage)!!!!

[Elsa Hsu]

I'm a teacher in CA and do house hacking. My current property is easy to manage by myself. However, CA is too expensive to invest any more for my teacher's salary. 

This is my first rental property out of state in Ohio. I'm looking for a high cash flow area that allows me to gain more capital. 

I saw this property in Cleveland and would like to invest as a long-term rental. This is a single-family 5 bedroom 1 bathroom house with 2 garage spaces in Area C. 

Price: $103,000

Loan amt (43% down )- $44,599

interest: 6.5%

15yrs Mortgage payment: $509/month 

Closing costs ( 1.5% of total purchase and sale )- $1,545

Expenses ( taxes,insurances,maintenance,vacancy,capital expenditures )- $950

CoC ROI: 16.39%

Current rent: $1400. Potential rent: $1600 

3 questions: 

1. What's your opinion in investing in this Single-family property if my goal is to build more capitol? 

2. Should I do 15yrs mortgage to have ROI 16% ($630) OR 30yrs mortgage to have 20.2% ($769)?

3. OR should I be patient and wait for multi-family property

Thanks for your comments