Flip or rent? New purchase-take profit or rent long term?
Just purchased a property under market value. Option 1 is to flip immediately not touching the property and make $15-18k profit after all done. Would pay short term capital gains so more like $10-$12K profit. Option 2 is to sink $5,000 into property in rehab over the next 3 months when I'm not doing my W2 job and rent it out. Preliminary rent numbers after rehab showing about a 11% cash on cash return after year 1. Purchase price $88,000 I have offers for $110,000 now.