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When you decide to invest in real estate, you have to make the decision whether you want to renovate and resell a property (fix and flip) or want to become a landlord to offset your costs as you wait for the property to appreciate (buy and hold). Which decision is best for you depends on your goals, experience, and risk tolerance.
You have two options whenever you purchase a property as a real estate investment. You can renovate the property and try to resell it for a quick profit, or you can keep it for a longer period of time and convert it into a rental to offset the costs of ownership and maybe even create positive cash flow. Both options have upsides, but they also have drawbacks.
It really comes down your unique situation. What do you hope to accomplish by investing in real estate?