First time investing - Good starter opportunity?

[Tony L.]

Hey everyone,

I started this year out looking to get into more real estate investing, rentals and flipping homes. I recently had a abandoned property that suffered from some fire damage given to me from a family member. They paid all the fees for that and it is mine now...

However I see this a possible opportunity but Im not sure which direction to really go in. Ive gotten many quotes and estimates from contractors to fix (120k-180k).

I have received a few estimates of building a brand new home here at $200-$350 per sqft to build. 

Would it be worth to renovate and collect the cashflow or spend more and build a new home that will appreciate later on in value?

Thank you all