Critique my first investment plan

[Andrew Baker]

hello, I've posted once before regarding multi-family investing and I've come to realize that I lack the funds to get started with that.. so my plan now is to purchase a single family home roughly 15 -20% below market value, fix it up if needed, lease with a one year contact, then after holding for 2 or 3 months sell it off to another investor with an occupied tenant. Is this or does this sound like a good strategy? Any drawbacks that I may not see? Thank you for any response