Do I Sell it OR keep it as a rental?

[Matt Crawford]

Hey BP - I just closed on a 3 bedroom, 1 bath house. After repairs, I am pretty confident that I can BRRRR completely out of it, leaving no money in the deal. After refinancing I would cash flow at around $220/month. However, I am in real need of a new vehicle and up to this point I have had an aversion to paying a car payment as it is a depreciating asset. If I were to flip this house I estimate I would clear $15K (after RE fees & capital gains tax) which would give me plenty of funds to purchase a newer vehicle. A fellow BP member / friend challenged me on this and threw out the idea of keeping the house as a long term rental and then using the cash flow to pay the payments on a newer vehicle. Any thoughts or input?