South King County House flip or BRRRR

[Jake Boyer]

3 bed 2.5 bath, ~1800 sf

Major exterior remodel due to that old nasty LP siding that swells and absorbs moisture. Looking for any advice on how bad the damage really is behind that siding. Completely falling apart on the outside and likely has OSB siding behind it with 60 minute paper. I'm fine with re siding, but looking for advice on how to budget for sheathing and framing if needed?

Interior is in good shape, but all dated and needs refresh. Full kitchen and bath remodels, new carpets, railings, light fixtures etc. 

Roof was done recently, but the gutter work is terrible and the flashing is wrong in an number of areas so there is likely other issues in the attic. 

Think I can get it for ~350k, ARV around 480-500k, possibly more if the market stays this hot or gets hotter, which is very likely in south king county WA with zero inventory. I'm estimating the rehab around 50-70k.

Also lookin for suggestions on whether to flip and resell or keep as a rental. Kind of leary about rentals in states that provide more protection for tennants than landlords... Thanks in advance!