Should we pull the trigger on these properties? First time investor in Tulsa

[Sunny Karen]

We are new to real-estate investing in the Tulsa area (have a couple properties in CA, MI)

Why Tulsa? Conservative appreciation, reasonable cash-flow and long-term outlook for the city looks good. No crazy growth and hopefully no crazy downfall. The economy looks to be slowly diversifying away from Oil and unemployment is low in OK. I consider it a hybrid for appreciation and cash-flow. We have friends and family in the area who can help out though we will be OOO and use a PM company.

We are mostly targeting SFH, Duplexes, Fourplexes. I am evaluating 2 deals out there, and was hoping to get feedback on.

3/2 duplex - new construction in Sand Springs neighborhood (hopefully low capex for first decade). Purchase price: $365K; Rents: 1600 * 2 (3200); With 25% down - PITI would run about ~$2200; Property Management (8%) + Vacancy (5%) + Capex & Maintenance (8%) - I would cash-flow about ~200/month.

2/2 duplex - new construction in West Tulsa neighborhood. Purchase price: $300K; Rents: 1250 * 2 (2500); With 25% down - PITI would run about ~$1800; Property Management (8%) + Vacancy (5%) + Capex & Maintenance (8%) - I would cash-flow about ~100/month.

Cash-flow right now isn't very important for us (as long as it's not negative). Our plan is to hold long term (10+ years) and likely pay it off in 5-10 years to act as supplemental retirement income which we plan to get to with a couple more properties paid-off in Tulsa eventually.

Would you pull the trigger on these two properties based on our goals? I trust the builder and will get a through inspection done.