Renting will yield a smaller cash flow but flipping might produce a larger profit, quicker.

FHA is good due to the low down payment but the up front MI is very expensive.... in addition, you have to add .8 to your rate which is going to be your monthly MI so it will eat into your monthly profits; you cannot drop the MI, you would have to refinance to get rid of it. make sure you properly calculate the payment with all escrows and re-run you numbers...

It is now just about the numbers .If the calculations make since and you will come out with a profit , then go for it . 2.

It is more an owner operator business just generating enough income and profit to keep the lights on.

There are lots to consider, can you force equity with minor cosmetic upgrades to sell at break even or profit?

I am trying to find the best thing to do with the profits.

This area has a good appreciation rate so down the road we can rehab and sell for a profit. 

8)Access your buyer's list and push the house until an investor buys it-- Market your wholesaling business9)**When an investor signs the contract**-- Charge a wholesaler fee-- Get your deposit back (if you needed one) and make a profit 

. $2,500.00 MONTHLY INCOME$1,739.50 MONTHLY EXPENSES$760.50 MONTHLY CASH FLOW2.41% PRO FORMA CAP RATE$9,126.00  NOI$295,800.00 TOTAL CASH NEEDED3.09% CASH ON CASH ROI4.56% PURCHASE CAP RATEAfter Repair Value $379,000.00I will Sell the Property in year 3-5 years with a $92k-$139k in profit. 

8)Access your buyer's list and push the house until an investor buys it-- Market your wholesaling business-- Possibly make a website for buyers to see your criteria of properties to sell9)**When an investor signs the contract**-- Charge an Assignment Fee-- Get your deposit back (if you needed one) and make a profit