Expensive vs cheap rental property: Which is better for positive cash flow?

[Ava G.]

We are considering two options as a first rental property:

1. A condo unit in the center of one of the fastest growing business hubs with a very good view of the city skyline. It's just a walking distance from malls, parks, hospitals, and offices. It also has better amenities & an elegant overall structure (similar to hotels). It's more expensive and will command a higher rental. (I personally want to live there myself.)

2. A condo unit that is near the business hub (but not within it). It's about 10-20 minutes ride from malls, parks, and offices. The amenities / overall structure is just okay, nothing too fancy. It's less expensive and more affordable rental property.

Let's assume that both buildings are developed by reputable companies and both have a nice interior design (say, I hire an interior designer to dress up the unit). In general, which of the two is a better rental property / has a wider market?

The answer seems obvious to me but I some things may be counter-intuitive.

[Justin Tahilramani]

@Ava G. - This probably isn't what you want to hear, but neither are going to be GREAT opportunities for investments unless you can pick them up WAY below market value and HOA dues are reasonable. The reason I say this is because Condos are notorious for additional fees/special assessments. You are probably going to be much better off with a SFR.