Flipping vs Rental Property?

[Gabriel Martinez]

Hey everyone, I am a new BP member with really no REI experience, but currently engulfed with all the podcasts, forums and reading as many books as possible.

So my question is, how do you decided whether you're going to flip a property or use it as a rental? Does it depend on the area that the property is located and/or the shape that it is in? Does it depend if it is a foreclosure and you can possibly make more money off the flip as opposed to the long term rental? Or is it always a predetermined decision and if you buy it as a flip it is almost rare you change your mind and hold it as a rental? What are your thoughts please?