Your Thoughts...Flip? Rent? House Hack? Other ideas??

[Sam Mathew]

I'm typically a traditional (aka old-fashioned) 'Buy and Hold' or 'Flip' investor.  It has worked well.  BRRRR method, buy in cash and then cash out with Conventional or Private loan.

Would like to get BP member thoughts on this one. 

Home Details:
Single Family Home 3,800 sq feet.  5 bed/3 bath on 5.2 acres of land. 10 mins from a busy urban downtown with Big 10 university.

Options:
1) Rehab and Flip for approx $300-400k in profit (traditional route)
2) Buy and Hold (after cash out refi, maybe $600/mth in profit w/$350k or more cash out)
3) House Hack (it is easily possibly to add 2 more rooms w/o issue but have never house hacked before; profit unsure but each room maybe $600)
4) There is enough land to add tiny houses on the land but need plumbing/electrical (don't know much about this)

Would love to hear your thoughts?  I will include a picture of the land and property to get a better idea.