Rehab Complete - BRRRRR or Flip

[Clayton Smith]

Hi, 

I am a mainly a buy and hold investor with 25 doors. I also do some flips to fund my rentals. 

I am finishing up the renovations on a SFH in Tuscaloosa Al. I took a 3 / 1 that the floor joists were collapsing and turned it into a very nice 3 / 2. I had a healthy budget of $82k and when I am finished I will be between $82-84K so pretty close to my numbers. The house should appraise for $220 - $230k and should be able to leave $0 dollars in the deal and possibly can even get some cash back.

I will be all in for around $170k. 

I can refi it and rent it for $1800 a month and cash flow around $200. Not great monthly cash flow but infinite cash on cash return. 

I can list the house for $230k. I feel pretty good about getting that price. Seems like you always get a lower appraisal on cash out refi's because the appraiser doesn't have a contract value to chase. 

Considering I am all in at $170k and could list it for $230k after paying a relator I could make a profit of around $45k on the flip. 

Some information about me to help with advice. 

I purchased a 10 unit portfolio in April for $690k so I will be able to cost seg and depreciate a large chunk to offset taxes. 

I have already done 3 flips and am currently around $50k profit this year with a few more in the pipeline. 

My goal is to get to 30 doors by the end of the year. 

Deal flow is ok but not great. I will definitely have another project to put the money back to work but I am not turning deals down because of lack of capital. 

Ultimately I would like to find a 8 - 20 unit multi family to purchase but have not had any luck finding it yet. 

I still work a W2 job so right now I do not need any funds  for living expenses. 

Do I take the quick flip money or continue to build my rental portfolio? 

Any advice would be appreciated.