Torn between 2 properties, need to make decision today! HELP!

[Samantha Klein]

Hi everyone,

I need some advice on what property I should go with. Details below

Property #1:

Duplex

Purchase Price - $132,450 (Off market property, sellers are getting good price without commissions and don't want to pay all of my closing costs) Property has had some updates, needs about 5k in rehab, very light cosmetic things

Gross rents - $1650

Insurance - $50

Taxes - $205

Repairs - $165

Capex - $165

P&I - $535.82 

Vacancy - $132 

Cashflow - 397.18 per month

Total out of pocket - $38,112.50 

Property #2: (Needs $500-1k of work, very maintained and updated. New metal roof and furnaces in last 2 years)

Duplex

Purchase Price - $100,000 

Gross rents - $1400 

Insurance - $40

Taxes - 197.33

Repairs - $140

Capex - $140

P&I - $396.91

Vacancy - $112

Water - $50

Cashflow - $323.76

Total out of pocket - $26,000

I'm leaning towards property #2 except it's about 15 min away, property #1 is 2-3 min away. What would you do? I'm thinking the one with less out of pocket and similar cash flow.