Two options for my first rental

[Matthew R Curcio]

So I really want to get my first property closed on and start this endeavor and I have narrowed things down and have two very different properties in mind.  

The first is a three bedroom single family that has been very nicely updated, is in a good part of town and should rent very easily.  The problem is that it's 170K and with the other expenses the monthly cash flow is only 300 dollars a month.  I can get it for only 10% down and an interest rate of 4.5 to 5.5.

The second is a small apartment building that has 4 one bedroom apartments that go for 1k a month each.  The cash flow then is around 2K a month.  The building is well located (right next to the state capitol complex) but isn't a "nice" area like the one family, I'd say a B neighborhood.  The asking price is 239,000 but since it's a multiplex I need to put down 25% and get a 5.5% interest rate.  This expenditure will eat up almost all my liquid cash but I really like the cash flow as this will allow me to move on to my next property much faster.  

What do you think?

[Matthew R Curcio]

I'm looking in Albany NY.  

I could possibly refinance after a bit if I need it to flip into another place and the market continues to rise.