The purchase price will be 160k and the homes renovated value is between 210-220k. (4bd 2.5ba on 5 acres inside city limits)My question is, should i do minimum repairs and rent the home out for around 1500mo (pay the morgage) or flip the home.

Goes over almost every single repair costs you will come across and gives some guidance as to if you live in an expensive area these numbers might be X vs.

There goes a huge chunk of the year in maintenance.From the capex side, how many months do you need to save to repair the roof?

I currently have a few clients asking me for a local handyman recs ( for small ongoing repairs on windows, cabinets, etc.), but my husband handles this sort of work on our own properties so I don't have an established pro relationship to pass along. 

Turns out, it has some major flaws ($$$) The sub floor and beams under the bathroom are rotten and will result in the bathroom being totally torn up to get to the beams and repair and then putting the bathroom back together.The other thing was-there is no access to the attic.

rent it. if so what would it rent for2. does it need any repairs/updates3. is it listed with a realtor4. can you get "control" of it with an option or a 45-60 day contract?

The standard formula for rehabs is (ARV * 70%) – repairs = maximum purchase price.This takes into account holding and selling costs.

Then deduct some closing costs and possible repairs.

Keep your repair receipts to justify mark up on home.read this...Seller Seasoning:Seasoning <90> 90 days but < 12 months, a second appraisal may be required if the re-sale price is 5% or greater than the lowest sales price of the property within the past 12 months.Property flipping is a practice where recently acquired property is re-sold for a considerable profit with an artificially inflated value, and is ineligible for FHAAlso attatched is guidelines for FHA loans Hope this helps

This law most commonly applies to credit repair companies; however, it is written to include any assistance or advice to a consumer in the "obtain[ing of] a loan or other extension of credit."