Indianapolis Keep, Flip or Wholesale

[Christy Brinkruff]

I am new to this and would appreciate advice from those who have experience. Earlier this year, purchased a home with great bones actually in the neighborhood where the show Good Bones flips a lot of their homes, Fountain Sqaure in Indianpolis. The home is currently a 2/1 and have about $145k in it after cleaning it out, replacing the roof/soffits/gutters. The home next door is a 2/2 and sold for $307k earlier this year. It is almost the exact same floorplan, but they converted their attic. I have great plans to convert the attic to make mine a 4/2. I was hoping to have the construction underway by now, but my contractor ghosted me. While I was looking for another contractor, I was sent another great investment opportunity and used most of my renovation money on it. I should be able to save up enough to start renovations in January. I'm trying to figure out if I should fix & flip, fix and rent or just wholesale it and move on to other opportunities that interest me more. I think the renovation will be $80-100k and it should rent for $2400-2600. Pro and con list below (as I see it).

Flip Pros: Major market home shortage - would sell instantly, Should be able to make a good profit, Fairly quick money

Flip Cons: I hate dealing with contractors, a few months of construction, not a long term wealth strategy, I hate dealing with contractors

Fix and Rent Pros: Equity, long term wealth, good rental market, one of few 4 beds in the area, great hipster neighborhood

Fix and Rent Cons: I hate dealing with contractors, I've never been a landlord and am nervous about it, it's not convenient to where I live. 

Wholesale Pros: Quick Money, Cash to invest in other opportunities that I love and have mastered, I don't have to deal with contractors, I can just be done and move on.

Wholesale Cons: I love the house (oops), I love it's potential, I need to learn to landlord at some point, inexperience with wholesaling