whose batteries? Not all LIPo and LIFEPO4 batteries are the same, so it is hard to compare two unknown brands. In general, the LIPo have a bit higher output and are smaller and lighter, but do not have the life span of the LIFEPO4 batteries. The LIPo also are more prone to self destructing under bad circumstances (over charging, damage from a crash, discharging too far)
I run both in two different projects and have been happy with both. I run a Ping LIfepo4 battery, and got my LIPO from ebikes.CA. For your small motor, either should work fine, and I don't think the 2 extra amp hours on the lipo would increase the range by that much.