BRRRR or flip? I cant decide!

[Tyler Bushey]

I've got a house under contract and I can't decide whether to flip, or refi and hold as a rental.

Purchase price - $95k

Reno - $45000(estimated guess, meeting with my contractor tomorrow)

Loan costs - $15k

ARV - $215k

If I were to rent it, I think I could get $1600/mo.

Also has real good air bnb potential as it's in a very popular tourist town.

I'd love to hear opinions, I'm not sure which I'll do yet, but I feel I have a good opportunity in front of me!  Thanks in advance! 

[Jeff Copeland]

If you hit the right numbers, a flip candidate should make a nice BRRRR candidate, and vice-versa. It's nice to have both options.

Ultimately, the answer will be driven by your personal financial (and tax) situation - not the house. So you might want to chat with your CPA before making a decision.