Buying cheaper vs. more expensive
I am on the verge of my first real estate deal. I am buying a duplex and plan to live in one rent the other etc... My question is that I found two that I like, both need a similar amount of work (mostly cosmetic). Both in pretty good neighborhoods, except one has a small yard and basement/garage while the other has only a very small side yard. Bigger house is a 2+2 home and the smaller one is a 2+1. The rent income/mortgage payment ratio would almost be exactly the same. The big difference is about a $40,000 price difference. I am leaning towards the cheaper of the two. I plan on living there for 2-3 years before moving on. What are the pros/cons of buying the cheaper or more expensive house? Any input greatly appreciated, thanks!
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don't forget the 3 L, s location location location, schools area comps, etc cheaper can be more expensive