Rental Property or Fix n Flip?

[Quynh Larimer]

Hello everyone, 

We have about 60k saved up to invest and we might get pre-approved for up to 180k value on a SFH due to our existing mortgage and limited income. However, the average house value in the area that we'd like to buy is about 210k. My question is: can we purchase a property to rent out with this limited fund/income? If so, should we look into a rental property or a fixer upper?

Any advice is much appreciated!

Thank you,

Quynh L.