Rehabbing an old rental or get an updated one

[Elisa Zhang]

Hi, all. This is my first post on BP. I have been reading BP for the past couple months. Learned a lot. I am currently evaluating two places to buy. This is my first multiplex. I would like to hear some opinions on which one I should go with. Assuming following rentals are same price

1. Total fix upper. 4plex. I can put $100k down to fix it up and get the rent from $2500 to about $4800. Of course I will do it one at a time. All one bedroom units.

2. All updated. Duplex. It is under priced in rent now because seller is in bankruptcy. I have to wait until March next year to close. I can raise the rent from $2300 total to about $4000 maybe a bit more. This is slightly better location and more attractive to family. All 3bd/1bath. 

In general, is more units the better? Do you typically go for more fix upper and rehab it or under value properties? 

Thanks a bunch.

Elisa