First Rental Property Advice

[Christopher Reeves]

Hey guys,

First off, thank you for taking the time to read and hopefully respond to my question as I have a conundrum here. My business partner and I have around 40K of starting capital and are looking for potentially a BRRRR or just purchase and rent strategy. There are a few homes in our area that meet the basic BRRRR criteria but will be further away and will require a property manager as we both have full-time jobs among other challenges. There is also a townhouse that is in the same complex (two doors down) from my business partner that is in good condition that just went on the market. It will most likely not require a property manager and will be less upkeep because of the nature of the HOA and townhouse in general. So, we're trying to decide which to invest in first. What do you all recommend as items for us to consider when making this decision?

Thanks,

Chris Reeves