How much rent can I charge? Should I Flip? Oregon House, CA recent purchase -- 2 nice manufactured homes on 4.95 acres

[John D.]

I bought this with the intention of turning it into a rental.  I had my offer in the first or second day it was on the market, full offer, no financing contingency.  It should have probably sold for way more then asking, but I got a strong offer in and accepted fast before anyone else could move it seems.

http://www.century21.com/property/14217-frenchtown...

Honestly, I don't know the rental market that well out there, but knew it was a good deal at $185k, with two nice houses on it, really nice lot with views and great landscaping, separate driveways and entrances to the 2 houses (but one lot no potential to split).

I'm thinking I can get something like $2300-$2500 per month, for the two houses combined, but that's a definite guess.....I really don't know the market that well.

At that rent, it's a good buy at $185k.

But I just got an offer for $220k....and think I might be able to work that to $230k....with no realtors commissions.  At that sale price, I'm thinking it might make a better flip....

Any guesses on what market rent might be?  I can't find many/any reference points.  

Opinions on buy-and-hold vs. flip on this one?