My first deal...to flip or to hold?

[Mitchell Wyatt]

I think I've found a good deal on a single family home that needs a little work.  Here are the details:

Purchase Price: $35k

Rehab Budget: $12k

Estimated ARV: $65k

Monthly Rent: $650

Monthly Cash Flow: $60

I know we typically look for $100-$200 cash flow but with this being my first deal I'm willing to take a little less just to build up my confidence and get some momentum. If I keep it as a rental should I BRRRR to get back most of my initial investment? If I flip it, I'm worried that capital gains taxes will eat up to much of the profit. Is there a right answer to this or is it just a matter of personal investment preference?

[Jacob Sampson]

I think you may be allowing the emotion of getting your first deal done cloud your thinking.  Since this is your first time, thus being your highest percentage chance of making costly mistakes, you should be looking for greater estimated cash flow.