dilemma

[Jim Doine]

I've found two properties within a block of each other. One is a 3bd. 2 ba. 1055 sq. ft.built in 1921, completely remodeled 8 mo.ago, new roof, vinyl siding and windows, hot water tank, kitchen, bath. carpets, paint, etc.currently leased for $650.00 mo. price 35,000 tax appraisal 23,000. Property number two is a 3bd. 1ba. 1,320 sq. ft. built in 1994, needs about 1,000 in cosmetic repairs, currently leased for $700.00 mo. price $37,500 tax appraisal 31,600 I can only purchase one, which do you feel is a better deal and why? Jim