Deciding between buy & hold or buy & flip

[Mitzi Castiglione]

We have a house that when we bought it, our strategy was to hold it. However, it would also make a nice flip given the market right now. We have done both in the past. The purchase price was $58k. To rent it out, repairs would be approx $10k. For a flip, we would do higher end finishes with repairs at closer to $20k. ARV $175-190k.

It will bring in $1200/ month in rent. The house is in a hot, trendy little area of town. My husband and I both work full time jobs currently with aspirations to do REI full time, therefore we would like to have enough cash flow to retire. Hence, we are beginning to hold more rather than flip. What to do? What to do? :)

Thanks in advance for your feedback!