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Updated over 17 years ago,
How about...
this? We have the opportunity to purchase a house in need of some serious TLC for an exceptional price. It's in a residential spot in town, close to everything, and the comps. in the area show this house could (when rehabbed) sell for a fairly nice profit. BUT...
would it be wise to remodel the house and sell it outright, or remodel the house and rent it out? We are awaiting the realtor info for this house and will take our contractor when we schedule an appointment to see it (and a home inspection). It needs a new roof and a bit of cosmetic work, but the house seems stable (we'll find out for sure in a bit).
I suppose, if you were in this position, what would make you decide to rent it out versus sell it? I'm thinking selling because we would be able to cash in on the profits and keep it for our next deal. Any input is appreciated.