But there are SOOO many other factors that are in play.I talk with folks who aren't pre-approved, but only engage them enough to have a buyer-consult and refer them to my preferred lenders.

coinsurance penalty , or how the  $2000 or 2% on your deductible is factored at the claim.

So you get more bang for your buck with the 17-unit but factoring the vacancies should drive down its value in your scorecard.If your risk tolerance is low, I'd focus primarily on properties with higher cap rates, then zip codes and other criteria should follow thereafter.

The listing only has a single exterior photo and the bank priced at $300k and it appears they are not aware or factoring in the interior condition.

@Minh Le, good that you were still able to close, and hopefully you learned something from this experience.Going forward, make sure you factor all the "moving pieces" into your contract closing date. 

Some commercial loans also have prepayment penalties, so factor all of your short term financing costs.

What key factors should I consider to determine if this is a good deal or not?

I feel like a big factor is what the future would look like if your tenant moves out.

The biggest factor of your success in investing will be your involvement, education, and TEAM!

I simplified the math by estimating a daily rate of $250 for 30 days and factored in 20% vacancy