Buy and hold or Flip!

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Good morning BP!

After tripping over this sight a few weeks ago I am happy to say I am placing my first bid on a property this morning! Granted I know I am a ways from acquisition but I want to be sure i know what my best options are.

FIRST: THANK YOU @Brandon Turner and @Joshua Dorkin for giving me this amazing resource that has taken a girl who was trapped in the idea that the only way I could make a living is by working for someone else and turned her into a real estate crazed, entrepreneurial minded. all things are possible, freedom chasing girl!! I lost a job of 21 years back in 2014 ( loved my job and made great money) and now I am making half the money and the work quite frankly bores me. BUT I now spend my days listening to the BiggerPockets podcasts while I work. I spend breaks and lunches on my phone scanning real estate apps for investment opportunities. I consider going to work to be an investment in my education:)! So again Thank You both for all of your efforts and incredible insight to share the gift of possibility with all of us! You guys ROCK!!!! 

NOW here is my dilemma......

Originally I thought I was going to flip this house however; once I ran the numbers it seemed to me that holding onto it may bring bigger profits in the long run. I would love to get some feedback to see if I am looking at this the right way. keep in mind these numbers are very conservative!

Here is the scenario if I Buy and Hold:                                            OR Flip:

List Price: $28,900                                                                            $28,900

Estimated repairs for rental : $2500.00                                           $10,000/$5,000 for unknown's

Total cost of project: $31,400 ( assuming I pay list price)              $43,900

Monthly rental income: $1,000.00 ARV: W/1 bath= 65000 add/bath 85000

Cash Flow: $348.00                                                                           Potential profit: 21,100

NOI: $4180.00

PROPERTY DETAILS: This house has a new roof, brand new windows, new siding, 3 beds, 1 bath bungalow with 1.5 garage. Partially finished basement. Basement has been waterproofed. Driveway is in great condition. Bath needs light fixtures and that's it. Needs appliances and minor upgrades. This house was rehabbed in 2009 so little to be done.

HIGHLIGHT: This is a HUD property which means the property is currently on the market for owner/occupant buyers only. Which means If I buy the house within the first 20 days I have to wait a year before I can flip it. This allows me to potentially get this for a great price and avoid a bidding war between investors. I can hang onto it for a year or more and sell it when the market dictates.

OR I can wait until it is available to investors (in 2 days) and take my chances in a bidding war and then flip.

MY CONCERN IS: This would be a cash purchase (on credit card convenience checks at 3% simple interest). Zero interest for 12 months. If I go this route I will have all of my capital tied up in this house. And to avoid interest I would have to pay it off within a year.THE BRANDON TURNER WAY:) LOVE HIS DETERMINATION.....

THOUGHTS: Now in my mind, I would plan to keep going and figure out a way to buy another property to flip this year. Hard money lender may be the only option seeing my debt to income ratio will be out of whack if i choose to buy and hold.

I also considered lease with option to buy. However I feel that  flipping this property will be more profitable down the road.

LOCATION : This house is in a great location in a suburb of Cleveland Ohio. Parts of this particular city have been and will continue to be rehabilitated. I feel as though if I hold onto this property and sell later on the rewards will be greater. 

THANK YOU in advance for ANY input or feedback you may be able to pass onto me. It would be greatly appreciated......