Option 1 vs Option 2: Here's my situation!

[Kevin Medina]

Hi everybody, I'm just getting into my first real estate venture and I could use a little guidance. Here is my situation:

1. I'm 26 years old with a steady job as an accountant.
2. I have a trusted real estate agent who has been a family friend for 20+ years. 
3. I have been approved for a $200,000 loan with a 20% down payment. Might consider FHA loan
4. Agent has set me up with FLEXMLS to get access to new listings.
5. The target area is Wellington, Florida. 

Option 1: The buy, hold, and rent strategy for 2 years. Benefit: under IRS regulations I can claim 0% capital gains on a principal residence if said property is less than $250,000 and I have lived in it for at least 6 months out the year). The option to rent to a premier equestrian or polo player at a premium price for the winter equestrian season presents itself. This season lasts 5 months out of the year and attracts many top riders from New York. This strategy is common for Wellington, Florida. 
         Thoughts: This strategy works successfully only if I can cover my expenses by half year leasing during the WEF season and if I can hold on for two years in order to qualify for the 0% capital gains tax.  

Option 2: The buy low and flip strategy. Sell for profit as fast as possible. 
         Thoughts: This strategy works successfully only if I can find a reliable/ dependable sub-contractor and can sell soon after i put the house back on the market.