Should I flip or rent out my first property?

[Darci Minshall]

I am struggling with what to do with my first property. My plan going into it was to renovate and rent it out. BUT there's room for a good amount of profit ($25k) if I flip it. I could really use the start up capital but I also want to build a rental portfolio. My overall goal is to replace my income with passive income from rentals. I would need approximately 50 rentals to replace my W-2 income. That seems like a steep feat and requires more capital to scale my business at a faster rate. So do I give up a few rental opportunities in the beginning to raise some funds? Has anyone else debated this? What did you do, and did you regret it? Thanks in advance!