Buying first rental unit

[Holly Schuler]

I am looking to purchase my first investment property and have a few contenders. I am looking at 2/2 condos with an approximate rental value of 750-800/month. One of the units has an HOA of $140/month and the other has no HOA. I have run the numbers and they seem to both be cash flow positive but I am unsure of how to evaluate the market value so I can make an appropriate offer. I want to have immediate equity. Other properties in the same complex have sold for about $10K lower than the current asking price. Just don't want to overpay. Also I am paying cash so should that affect my offer in any way? Any advice would be greatly appreciated. Thank you BP community!