Eye on Two Beginner Properties

[Autumn Alexander]

Ok. So I was looking on Craigslist, and I came across 2 properties I think will be good to start with. I need advice.  

Home #1: $30,000. 2b/1ba. Comps in the area around 85-95,000. University very close as well as elem/mid/high school. Its a great location. Floors need to be repaired and some joists replaced. I contacted a contractor to do a walk through with me. 

Home #2: '99 Mobile home. $11,500. Here's what the add said "single wide 2 br, 1 ba home, very good condition, new roof 2014, new vinyl flooring and carpet, washer/dryer, dishwasher, stove, refrigerator included. Can't beat this price. Also has nice shed, roomy front deck and stairs off back door. Located close to shopping, schools." The pictures look real good. Appears tenant ready to me. Beside my personal distaste for dated wallpaper (which is easy fix) it doesn't need any major repairs. 

I think they're both good deals, and this will be my first investment so I have some jitters (good jitters tho, I'm excited). My hang up is how to fund them.  My credit is not the best (student loans) and I'm tired of letting good deals pass me by because of funds. What should I do? The properties arent expensive (as far as real estate goes); so maybe if I go to a bank with a plan theyll give me a shot? I do have some savings. And I have a wealthy friend I could potentially partner with or get funding from, maybe. I don't really want to deal with family. However my fiancés uncle who has some rental properties in Clarksville said he may be interested in partnering up. Any suggestions on what I should do, how to structure deal? Anything I haven't thought of? 

Thank you,

Autumn