Pick the Nastier of the two properties. 

As others have suggested, keep researching, reading, and even meet up with someone you know (friend or family member) that invests to see if they will let you shadow them through a deal or two. 

@Jess AzongYou cannot buy property owned by one person and then "refinance it into" a two-person LLC.

Eventually I want to convert this into an MTR since it's in a great location for it (two lvl 1 trauma centers 10 min away), but I want to live here for a year or two first.

Purchase price: $104,000 Cash invested: $20,000 Deal Deep Dive: Strategy: Buy and Hold Mid-Term Rental Buy Box: - Within 15 minutes to a major hospital - Within 10 minutes to a Starbucks (LOL)- At least two bedrooms- Light Rehab Only (paint/floors/decor)How I Found the Deal: '- networking with fellow local agents (I am an agent, for context)How I Negotiated the Deal: - Gave the seller what they were asking for to get in contract- Negotiated seller credit based off inspections - Told the agent who brought me the deal that HE could represent ME in the deal, which made it a win-win-win.

Buy Box: - Within 15 minutes to a major hospital - Within 10 minutes to a Starbucks (LOL)- At least two bedrooms- Light Rehab Only (paint/floors/decor)- Furnished Finder Expected Rental Income needs to be 25% over PITI How did you find this deal and how did you negotiate it?

That makes 20 between the two of you.

@Roger Lim -A good place to start is your REIA:https://lareic.com/Also, finding a local agent (or two) here on BP is also a good way to meet more investors.

I personally like to target tertiary markets 45 min to an hour and a half outside of a major metropolitian area with a large supply of multifamily.

An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do. 6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).