7 unit or 6 unit Deal?

[Cindy West]

Hi all, I'm working on 2 separate deals that pencil out well but I'm not sure which to do. For reference, I've only got funds for one. 

The first deal is a  value add 7 unit (1/1) in South Carolina, B class with lots of upside and is seller financed. One thing to note is this isn't in my current market (NC).

Purchase Price: $625,000

DP: $125,000 + $40,000 in 15 months

Current Monthly Cash flow: $1175

Proforma Monthly Cash flow: $1900

Renovations: $80,000 (entire building)

CoC: 10%

ARV: $980,000

The goal is to increase NOI over the next 3 years and cash out refi in order to get my down payment out of it.

The second deal are 6 units across 3 duplexes in my town in NC, C class neighborhood. I'd be using a hard money lender & intend to refinance into a long term fixed rate loan. 

Purchase price: $390,000

DP: $64, 200

Current Cash flow: $628

Pro forma: $1483

CoC: 22%

Renovations: $15,000

ARV: $480,000

I appreciate any feedback!