[Calc Review] Help me analyze this deal (Live in flip vs Rental)

[Cassi Justiz]

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*This link comes directly from our calculators, based on information input by the member who posted.

What would you do?

I purchased this property with the intention of buy and hold rental. There has been tons of little issues that have delayed the process, so now we are 5 months in and we've spent about $10,000 worth of unplanned rehab and holding costs that have all been financed with personal funds. Unfortunately, we did a conventional loan (20% down) with this one and are in for too much to make a BRRR work. We are finally wrapping everything up and it should be ready to list to lease in the next 2 weeks. The $1300/month is pretty average for the area.

It should cash flow but here is the question.

The property is located in a rapidly appreciating area. They are building a ton of new restaurants, a top golf, costco, etc within about 2 miles. Our next purchase was going to be a live-in flip, but we are considering using this one instead. The mortgage on this property is about $50 less than what we are currently paying in rent. Would you keep this property as a white collar rental, or use it for a live in flip? Right now we are leaning towards live in for 2 years, eval prices but possibly rent for 3 years. Then sell at 5 years to meet the primary residence requirements. 

What are some thoughts and what do you look for in your live in flips?