Estimated ARV wrong - flip it or keep as a rental?

[Silver A.]

I've been pondering on this all day, hopefully you can point out the obvious.

Last week I bought a tiny apartment in the city centre, it was pretty much an emotional purchase.

Purchase price was 8500€, repairs and holding costs, selling costs altogether will be 1000. It would sell for 9500 as-is, 11500€ after repairs (only needs new wallpaper, new shower stall and new window.)

I was hoping ( - bad, bad way to make a decision) it would sell for 13k as-is. :mrgreen:

The percentages are not bad but the profit will still be a small amount of money.

However, it would make a good rental unit. The location is good and it will rent for 90€ a month. The tenant will be paying all heating, maintenance etc costs.

The apartment complex where it's at will be fully renovated in two years, and the market is slowly moving up. It will sell for 15k € in 2-3 years.

I'm 24 and my goal for the next two years is to flip and accumulate enough capital to purchase a whole lot of rental units and then live off the cash flow. Cash flow from a single apartment wouldn't help me much but it would pay for the monthly accounting bills.
It does not tie up much money, I can still flip one or two properties at a time and make up for having bought it in six months for sure.

What should I do with it, if there are no income taxes involved either way? Sell now, or rent it?