Guidance on property options

[Jeffrey Muth Jr]

Hello,

Not asking for financial advise but looking more for guidance on which route I should go. I currently have a commercial building that I will need to have a new roof put in which will cost me $30k and the rent per month is going to provide me $1,200.00 per month. Currently I'm renting the same building for $505.06 due to the roof is leaking, it is currently involved in a lawsuit with the roofer as he did such a bad job that it caused me to take a $700 decrease in rent for now.

I have a deal that has presented itself to me that I can obtain a 3br 2 ba, 2 story house with a tenant that has been in it for 4 years, rent is paying $750 a month and a purchase price of $75,000.00.

My question is should I look at getting financing to get the commercial building roof fixed so that rent can come back up to $1,200.00 or try to get financing for the residential house with that tenant.

My initial thought is to get financing to purchase the residential house and wait for the lawsuit to clear before fixing that up. I'm welcome and open to other ideas.

Thank you