flip and sell or refinance and rent

[Mario Hernandez]

Purchased a 3 bed, 1.5 bath house on .25 acre lot. Pasco county, FL

purchase price 35k. CASH

renovation cost 10k

ARV 100k-120k

Estimated Rent $1k-$1,200

I have two different routes I'm thinking of going with.

1) Debating whether to sell FSBO or with a real estate agent for 100k -120k. I'm guessing 6% commission fee. I live in Pasco county, Florida.

2) Go to my local credit union or bank, get a loan against the house for the appraisal amount and hope it appraises 100k-120k. I believe they credit union or bank will loan me 70% of the appraisal if I wait 6 months. I was also told of a loan that will give me 60% of the appraisal if i didn't want to wait the 6 months. I'll be keeping and renting the house for $1k-1,$200 a month. paying down the loan over time.

should I sell and get 100k-120k minus 6% agent fee and closing costs. using the money to fund other flips. I'm not sure if a profit tax will be levied against me for selling before 2yrs.

or should I pull out 60%-70% of the value and invest that towards other flips, keep the property and renting it for $1k-$1,200 a month.

Any help or ideas will be appreciated.