How should I go about Flipping or should I just Rent?

[Rob Witt]

I have found a house on the mls for $38,900. In November It was listed for $59,900. I saw the video on how to kind of get the numbers to work or adjust as needed. I have put what numbers I could in the Calculator on the site for flipping. 

I'm not sure where to go next. contact the Realitor vist the house with a cointractor and get a better Idea of how much upgrades will cost. Try to find financing or figure out if it's a good rental. 

I looked at some other homes in the area $122,000 is probably the lowest which leaves $40-50K to use to fix up and still have about $10K for a 50/50 split unless the home goes for less than $115,000.

The $20K profit is dependent on getting the house for $27-29K and not more than $50K for improvments. The house is in a College town and is close to campus.

What do you think?