Sell or Rent- Moved out of State

[Josh Goertzen]

I own a 1500 ft, 3 bed 2 bath house with 1.8 acres in middle Tennessee, recently remodeled and did some work installing a new filter system for the well, now better than city water. Bought it for $300K and have a monthly payment of approximately $1,500, then moved out of state for work. Now worth approximately $330K and have had it on the market to sell since August. It has been getting a lot of attention, was under contract once but didn't go through. Talked to property manager in the area and got rent estimate for $1800 to $2200 monthly, with other resources saying closer to $1800 so using this number. By my calculations, barely enough to cashflow. Trying to not pay two house payments, so would love input on what others would do with this situation. Thank you.

[Reid Chauvin]

@Josh Goertzen - If I were you, unless I needed the cash ASAP, I'd try my hand at renting out the property for at least 6 mo - 1 year and see how that goes. Doesn't sound like you'll even net that much after sale if you're using realtors and you've just done some work to the house. Seems like you're locked in with favorable financing terms on the house and you are at least breaking even (or close depending upon whether or not you use a property mgr). Pretty good opportunity to see if investing in long-term rentals is for you.