New Investor in need of help and advice analyzing deal.

[Derrick Jordan]

Greetings,

Like many, I have been following BP for some time now and I am ready to make the Real Estate Investment Leap!

I have been presented with the following real estate possibility and I am open to suggestions, opinions and/or advise.

Home #1- SFH is Brick 3bd/ 1 bth- 1100 sqft-2 Car Garage/ No need for Rehab-Currently Rented at $735 a month with long term tenants paying all utilities-Estimated Market Value $50K

Annual Taxes $500.00

Home #2-SFH is Frame 3bd/1 bth- 1000 sqft-No Garage/ No need for Rehab-Currently Rented at $600 a month with long term tenants paying all utilities-Estimated Market Value $30K

Annual Taxes $778.00

 Both homes are being offered as a package deal for 45K Cash. I am thinking of paying cash with the hopes of delayed-refinancing the properties or some other option to pull my cash back out.  These would be long-term hold properties.   

Any advise on analyzing the deals or suggestions are greatly appreciated.

Thanks