What is your market threshold between rehabbing to resell or to hold?

[Scott C.]

I am curious what market factors experienced investors look for when they are deciding whether to rehab and hold or rehab and resell. Obviously the fewer Average Days On the Market, the better (I'm thinking up to 90-100 DOM, resell, over that rent out).

Have experienced investor's found patterns in MLS data that indicate when is a good time to rehab and resell or hold. I'm hoping to find a threshold to qualify data to support one exit strategy or the other, particularly to potential lenders. Do you look for a certain rate of sales closed each month compared to available houses on the market, or how the number of new listings a month compares to the overall number of houses in that market, etc?