Please Analyze these Deals

[Brian Campbell]

Deal #1: 2 bedroom house with 2 stall garage that doesn't need any repairs.
I've been talking to the seller and he said his final offer was $32,500. Rent is $500/month.
Principal and Interest amortized for 15 years is $265.55
Taxes: $68
Ins. approx $40
Total PITI: $373.55

Probably not much of a deal here if I hold it as a rental.
I could sell on contract for $47K (get 3-5K down) and get more cash flow since contract buyer would be responsible for taxes, insurance and maintenance.

Deal #2 One bedroom home needs no work. Same seller said $17,200 was final offer. Rent is $325/month
PITI Total: $207

Again probably not much of a deal here as a rental.
Could sell on contract for 25K (get 3K down).

Looking for opinions/advice with these deals.

Thanks for your help!