15 year vs 30 year on 96K rental income

[Asma A.]

Hi all! I'm in process of closing on a 96k rental property and trying to decide btw 15 and 30 year mortgage.  Below are numbers:

Purchase price: 96,000
Down payment: 20%
Interest rate: 3.125% on 15 yr,  3.85 on 30 yr

Monthly payment on 15: $845
Initial portion towards interest: $208

Monthly payment on 30: $670
Initial portion towards interest: $257

I know the conventional thought is to always opt for the 30 year.  But with these numbers, does it make more sense to go for the 15 year?  Only about $100 once interest payment is deducted. Thanks in advance!

[Julie Marquez]

I just went through a similar issue as you buying my first rental house. Just because I could afford it, I took the 15 year. Now I am trying to get a loan for a 4-plex, and the rental house doesn't show the most amazing cash flow. Now I am wishing that I got the 30 year and paid it back in 15 years. That would show greater monthly cash flow, that would help me qualify for future mortgages.