Fixing up my first home and flipping it or renting it out

[Dalton Cody]

Looking for some advice. We currently purchased a new home and are wanting to fix up our old home that needs quite a bit of repairs. We bought it for 178K or 84 a sq foot. Current ARV is about 265K (125-130 sq foot). Needs approximately 40K in repairs. Ideas on or can someone walk me through on how to finance repairs, refinance it and get this thing rented.

Thank you!