Buy and hold... rental property question
I have two properties that I am look to buy and hold.
Both properties are in same city, first one is in a good location and second one is in not such a good location but can be easily rented on section 8
First one is listed for 199k as is build in 1993 and needs about 10k to 15k worth of work.. Zestimated for this property is about 225k. We made an offer for 185k and 5k closing, seller came back with a offer of 190k and 5k in closing. Rent is going to about 1500 and payment my monthly payment is going to be 1200....Should I go with this or not?
Second one is listed for 149k build in 1970 and needs about 6k to 8k worth of work.. Zestimated for this property is about 170k. We are going to make an offer for 145k and 5k closing.
Rent is going to about $ 1200 and payment my monthly payment is going to be $930....Should I go with this or not?