Financial advice - flipping vs renting

[Joe Miller]

Looking for financial advice. My girlfriend and I live in PA, we purchased a home 1 hour away in the state of NJ for $23,000 no mortgage bought out. Fast forward 2 years and we are just getting to the stretch of finishing the house now we are debating whether to RENT it out or SELL it to try to purchase 2 properties or a duplex and use credit cards to fund the partial rehabs. What I must fill you in on which plays a big role on why I am contemplating is our living and financial information.

I do not have proof of income and also in the stage of rebuilding my credit (660) but I do make about $2,000 a month under the table.

Girl: 50k salary, $270,000 in prIvate student loan debt. $2115 a month. Say in this case $0 credit card debt, 800 credit score.

After all Is saId and done:

We would have about 75,000 totally invested into the house, it could be appraised for maybe 145,000 when finished and possibly sell for 125k round about.

OR

We could also rent the property for about 1200/mo propert tax Is 300/mo.

We currently rent a home right now for $1000 a month but don’t have the option of moving to our home to save money because of it being in another state.

We have no idea what to do for our next move! Do we rent or sell? What are the Pros & Cons?

Any advice please, it would be greatly appreciated 🙏🏻