Flip or Rent?

[Andrea Eble]

I'm closing on my first investment property next week and am having 2nd thoughts about my strategy moving forward. I was planning to use this property as a rental but am considering flipping it instead. I took out a conventional mortgage and am putting 20% down. The house is going to cost $140,000 and I was planning to put in $10,000 for the rental renovation. With a rental cost of $1900-2000 I would be cash flowing around $400 each month. My question is about moving ahead to be able to finance future rentals. I'm very interested in the BRRRR method and could see this property as a great way to start gaining the capital to get the BRRRR method off the ground. I'm estimating my ARV is around $200,000 on this property. If I flipped this property then planned to flip 2-3 more properties over the next year, I would have enough capital to purchase something with cash. Any thoughts on the direction I should head would be greatly appreciated.