It depends on the market you live in and whether it's better for buy and holds or flips, or maybe it's good for both?

Our plan is to buy and hold, live in it a few years, do some rehab and the eventual goal being to turn it into a long term rental property.  

Good morning BP community,Lermon Bethea here looking to learn as much as possible about rehab/flip/hold and maybe offer some information if I can.

Clint,I'm thinking for my 1st deal, probably a SFR or condo and either buy and hold or flip.

If you don't need to sell right away you need to consider holding costs and redecorating costs if you rent. and it will take a while to find tenant. 

Hold makes so much more sense to me -- tax benefits, paying down mortgage, long term investments, etc.

We are looking for more flips and to build a portfolio of buy and hold properties that will create cash flow.  

You may end up working for minimum wage.If this were a buy n hold you could leverage the risk over a longer potential profit of cash flow but as a flip your profit is all determined at the sell and the profit will be taxed (versus a buy and hold profit when taken via a refinance is not taxed).Good luck

Flip, buy and hold, rehab and hold, etc. 

I hold the majority of the power when it comes to their housing at least.