Buying first rental property Have offer on the table of $49.5K for a duplex that has renters who pay $550 per unit ($1100/month)-was originally listed at $69K but talked it down-On the corner of the block with a bus station right out front and a restaurant right next door-built in 1900-will need work very soon probably Or should I wait for:A newly renovated SFH in an up and coming part of town for the same price that rents for $700/month.As an experienced investor, what would you do and what are immolate things I should consider?

Units are not up to market... there's upside to both, but they have recently renewed leases, I never though about meeting particular needs... this one is literally right next to the parking lot for the train station so that has to account for something.

The development is across the CFD station on Lazelle.

There are 2 major buyers in NNN leases (in my experience, i have developed 5 NNN gas stations with national credit tenants and 5 single tenant outparcels):1- Institutions, large funds/famoffices/reits/etc, In this case they are either using leverage for an arbitrage opportunity (borrowing at 3%, buying at 5%) and/or hedging against their much more aggressive investments.

I would be looking at this generically as I don't think you want to run a salon or rent spaces/stations.

Local police stations rent garage spaces and storage facilities.

There are thousands of miles of tracks and switching stations throughout the country, but most of it is rural. 

I am in Canada and a client who is from Canada with no credit history in the states is looking for a loan to buy a store and gas station.

The commuter rail is convenient and takes you into the Secaucus Junction station in Jersey then you cross the river to the trade center.  

When we were transferred we rented it out and bought at our next duty station.