Seems like everyone forgot the question.
Which is a better INVESTMENT.
So I take it you are NOT going to live there, but you are looking for a return (today or tomorrow) on your "investment".
Your investment is your:
time and ability to manage the property
your positive cash flow (or negative, if you like to gamble and can predict the future value of the investment at some point in time when you plan to sell...)
You may want to ask, where can I maximize my downpayment -
What are my overall carrying costs for property a and property b
If I were going to rent and pay $X in rent, where do I NEED to live to pay the rent...
Good luck future landlord. Look at RentLaw.com The National Landlord Tenant Guide and click on NJ for more info and being a landlord in NJ. This should help.