Many possible options here. You have not stated all the possibilities you are entertaining.
Rent it out or what? Sell it? Live in it? Rent the other house you are considering?
Renting is fairly stress free when you have a good tenant. I have had many good tenants both as a landlord and taking care of other people’s property who really cared for the property and always paid on time. A couple tenants who were a little messy, but never destroyed the property in any way, and one that stopped paying, but I told my friend the landlord that the woman was lying when she was just in the application stage, and my friend did not listen to me.
If you sell it before a year you pay regular income tax on the profit. If you sell it after owning it a year, you only pay capital gains tax, which will be zero if your total income (all income) is less than $75K (it might be higher for 2022). If you wait two years of it being your primary residence then any profit you make is completely tax free.
You are fixing it up, maybe you want to live in it and not risk someone else messing it up, and buy the other property to rent out if it is livable as it is? Then you can sell this fixed up one when all of your profit will be tax free.
Your state might have laws that favor the tenant, that is something to consider. Each state is different.