if ur not much on a strict budget plan, i would go with #1. if the budget is getting kinda tighter and you need to try and save wherever you can, i would go with #2.

i would not do #3. "really not so nice" neighborhoods almost always mean tenants that are relatively poor and having a hard time as it is to pay bills. the risk of having to deal with late rent payments is too stressful. A LOT of them dont even have checking accounts. their credit is also usually either bad or not enough. #3 is a headache if its in a bad neighborhood. my parents have a 6unit apartment in south central LA and ive helped them try to manage it and with the little i've personally seen and dealt with, is too stressful enough. i cant imagine having to deal with that shit all by myself. so not worth it.