Flip or rent for first project

[Greg Van Brunt]

I've been looking at a SFR for a couple weeks. It need s a on of work, floor leveling, roof replacement (rafters and all) a new bathroom to be rentable. (Although I've heard it could be rent with as little as having roof replaced). I'm getting an idea of how much is needed to make this thing cash flow. My question is, it' my first venture. Should I even tackle a job this big? If I do, do i do as little as possible to get it rented or do all that needed to flip it? Renting will yield a smaller cash flow but flipping might produce a larger profit, quicker. Should I tackle this project as a first timer starting out?