To sell or hold and rent my renovation house?

[Liz Teifer]

I recently bought a house that needed to be redone in every room. I got a decent price on it with lots of work needed. After the work is complete, I am trying to decide if I want to rent it or sell it. To sell, I would probably end up with about $25k profit after all expenses, holding costs and selling costs. If I keep and rent and refinance it after 6 months I could probably cash flow about $250 month but will be out of pocket around $17k if I get a 75% LTV refi. What is better to do or is it really a preference?