Hello, I am very new to all of this. Our goal is to gather some money up and in about 8-9 months look for an investment property. I wanted to get some opinions since for now my husband and I are still brainstorming and trying to educate ourselves, so the more information the better. My question is: As a first time investor would it be more profitable (in the short term) to buy, rehab and resell? Or rent it out? After our first property, our goal is to rent but unsure what we should do with the very first to turn in a quick profit that would help us financially to continue our journey. We live in the city of Philadelphia and we are not homeowners! The city is up and coming and with all this old properties in need of rehab the market is blooming so the opportunities are endless and the time to invest is now! This would be my husbands primary occupation after we start. So we would need to have some money to continue growing our portfolio.

Hello, @Anxhela Musta , wel come to BP!  Newbie investor here too trying to do about the same thing.

Currently, I am considering house-hacking so that I can save more each month towards other investments but I have considered a quicker house flip to gain some capital.  Research your market and find out what's going on in your area, talk to realtors, other landlords, friends, and see if you can find a need.  Are people wanting to buy and stay for the long term or are they renting more often?  What's the average price point (including taxes/holding costs/etc.) for buying/selling houses and what's the average monthly rent/lease in your area?

Check out the guides section on BP: https://www.biggerpockets.com/guides

I highly recommend reading

1. The Ultimate Beginner's Guide to Real Estate Investing
2. How to Buy a Duplex: The Ultimate Step by Step Guide
3. How to Flip Houses: The Ultimate Guide

You're in the right place, you're in good company, and strongly encourage you to keep asking questions and educating yourself.  If I can help in anyway, feel free to message me!

Congratulations on starting your investing journey! I think it's fantastics that you're open to this new venture and taking the steps to change your life! Since you are a renter at the moment I would start looking at some multis (pref 3-4 units) and see if you house hack and make sure your expenses are low first. Larger units means you can cash flow better and you'll still qualify for FHA low down payment programs with must more attractive rates.

I'd start with that so you can create a little bit of cash flow after some updates in the unit and gain some rehab experience that way. If you're able to find a BRRR property and refi after 6 months you can get that reno and down payment money down and start on your first flip property.

Make sure you interview the right agent to help you with this .. they will be able to comp you the right property and identify good markets for you to invest in. 

@Justin Johnson Thank you for the helpful and useful reply! Good luck to you!

@Lien Vuong Thanks for your input! We do not rent, my job provides us with a studio apartment as part of my salary, all utilities included also, so our major expense for now is a car payment which we will be getting rid of in the next 5 months. We will continue to live here for at least one more year or even two. Also, we do have some rehab experience as my husband has already reahabed 2 houses for his sister. Her investment strategies are not long term and they are different from the BRRR strategies, so we cannot exactly learn from her.