Analyze deals in Jersey City

[Herman Chen]

Dear BP members, 

I have been reading and listening to BP podcasts and am anxious to close on my first deal.  The two deals listed below are in the Jersey City, NJ area.  I think property around here is relatively more expensive and I think would be difficult to find a 2% Rule deal.  50% ruIe works.  I would be so grateful for any advice they can give on these two potential deals.  Thanks in advance!

Deal #1

Asking Price: $340,000

2 Unit duplex 

SqFt: 2827

Rent: 2600 / month (for both units together)

Brand new renovation just done on one floor, other floor needs $20,000 to renovate

Deal #2

Asking Price: $399,999

2 Unit duplex

SqFt: 2500

Rent: 2900 / month (for both units together)

Already has tenants.  If tenants leave, I would spend about $60,000 to gut renovate

Are there any experienced BP members that can help me to analyze this deal?  I've done some calculations myself but I would feel much better if I can compare my analysis to experienced investors.  

Thanks so much!