Would this be a good exit strategy?

[Account Closed]

New investor question: When choosing whether to buy & hold or to fix & flip, would a good strategy be to?

1) find a property that would make a great rental property

2) purchase and refurb

3) get tenant's in place

4) put it on the market to see if I can get a good price for it and make a nice profit

5) if so great, if not... just hold it as a rental property making passive income

I mean logically, this makes sense to me. 1st choice: make a good profit off it to get more money in the bank. 2nd choice: hold for consistent passive income.