How to decide between FLIP vs. BRRRR

[James Li]

Hi,

I am new to BiggerPockets and apologize if someone already asked this. 

Could someone share how to make a decision on whether to Fix&FLIP or to BRRRR? I can think of a few considerations below:

a) whether the investor wants short term cash vs. long term capital gain; what is the investor's marginal tax rate

b) what is the investor's projection on market condition (high appreciation vs. downturn)

c) whether the the investor wants to manage rentals/renters

d) what is the price/rent ratio

What else would you consider and how to consider?

Another question is would you renovate a Fix&Flip differently from a BRRRR rental? For example, would you spend more to renovate a Fix&Flip than a BRRRR rental? How to think about it?

Many thanks. 

James