30 years fix rate mortgage - new or old property?

[Aviv Berkovitch]

Hi,

I'm planing to purchase my next property with mortgage. I'm considering two options:

- New property - cost $180K and the rent should be $1500/mo

- Old property (rent ready) - cost $130K and the rent should be $1300

The ROI of the old property is higher, but I'm worry because the chance that in the next 15 years I will need to sell it or invest a lot in rehab is higher compared to the new property. And due to the fact that in the first years of the 30 years mortgage more than half of the payments go to the rate payments. I won't build my equity a lot. And if I won't lose all this 15 years that I already paid, I will need to invest more in the old property.

What do you think should be the best strategy?

Thanks in advance