Ormond (1bedroom flat) vs Altona Meadows (2 bedroom unit)

Hi, I am a newbie to the forum and property investment.
I am thinking to get an IP for long term (10yrs+) rental income and some capital appreciation.

The properties I have been looking are in Ormond, Carnegie and Altona Meadows.
I can only afford anythings less than $350k, and I am not sure which area I should end up getting.

Obviously, the flat I can get in the East is usually around 4.5 to 5 sq. But in Altona Meadows I can get something around 10 to 15.

Also, should I get a renovated flat or I should get the old one and do it myself (I can't really do it, will prob get the professionals)?

any comments will be greatly appreciated. Thanks!