Thoughts on my 2 rentals

[Nick J.]

So I'm finally closing on some properties in Joplin next week.

2 properties

1st property:

1/1
770 sq ft
sales price is $12k
Sold comps are at 25k, 28k and 1 across the street at 42k(a lot nicer)
cleaning, paint and carpet 3k max (trusted and capable family member will be doing the work)
next door (same exact house) is rented out at $450 a month

2nd property:

3/1
1294 sq ft.......it has an addition
sales price $7,500, it needs some more work but it's only clean up and cosmetics, all structural is fine, 7k max
Sold comps are at 24k, 27 and 28k
rents are at $550 for this one

whatcha think?