Run Down House vs Newly built Condo

[Alex Kovalenko]

Hey sorry if this question gets asked 200 times here .. but here it goes.. 

Is it better to buy a run down (ie 1960s built) 3 bedroom, 2 bath house with minor renovations at $400k-$450k and rent it for $2k or new condo (2 bedrooms, 2 bath) $400k-$450k and rent it for similar $2k. 

The house would probably require $30k-$50k renovations and is in OK neighbourhood with not so great schools; while condo is in good neighbourhood with great school systems.. but has $500 condo fees a month.. 

gut feeling is that house would be better down the road (as it has a lot of land).. but i also feel like condo would be much easier to rent that a run down house.. i only see a few similar houses rented vs dozens of condos being rented every month

photo example of 2 bedroom $440k condo vs 3 bedroom $440k house