To BRRR or Not to BRRR (or hold or flip)?

[Rod Smith]

I recently bought a house at auction in a not so desirable part of town. I purchased the house cheap (25k) and it needs rehab (20+k). Homes in the area seem to be on the decline in value. There are a lot of homes for sale it seems in the 30k-50k range. I was planning on buying, repairing and renting, possibly using BRRR strategy but know I'm not sure what's best due to the area's lack of economic progression and low housing market values. Any suggestions or thoughts besides buy in a better neighborhood which I get now)?