Which property would be the choice for first time investor?

[Account Closed]

I'm a first time invester. There are 2 properties I'm looking at. One is a condo for $214k asking price for 1500sf. The other is a house 1200sf at $204k asking price. Both have HOA. How can I find out how to set rent prices? Are these good deals?

[Thomas S.]

As a first time investor neither is a good choice simply because you have not yet educated yourself on income investment properties.

You should spend the next 6 months learning everything you can about the business including all your state landlord tenant codes before you even consider investing. Once you are fully educated you will have the answer for all your questions and will know which property is the best purchase. Until then it would be a major mistake for you look any farther at investing. No one on here can give you any advice without them first viewing and assessing the property and the area themselves. Without knowing the market any advice on the specific properties is useless based on your lack of information and knowledge.