At this stage I would be neither. I am looking at buying a run down villa close to me, which I believe has some potential. I can just about scrape by to afford to buy the Villa (and pay for fees etc...) outright, but this would leave me hardly anything at all to be able to do any reform work it needs before I can either sell it on or rent it out.(Because the market is so slow at the moment I would prefer to rent it out in the short term).
My lack of funds means that I will buy materials and do the work needed as and when I can afford, which may take quite a few months, and I was just concerned that with having the place empty I may be exposing myself to would-be squatters.