First time posting! Would love some creative suggestions

[Victoria Cocklin]

Hi everybody,

I co-signed a flat in 2020 with my daughter.  Now after living there for a short time she is realizing how this home does not suit her life for a variety of reasons.  So, she is looking to move.  There is at cursory glance about $25k in equity in the home. She is a freelancer so there is a 1099, she has good credit but very little of it hence me co-signing.  However, she has improved in that area. The home has surrounding medical centers but not a large hosptial.  She has no interest in being a landlord as one of my thoughts was for her to rent it out.  The area in Chicago she owns the flat is descent and will have no trouble getting a good tenant. I do not live in Chicago.  I currently own a few rental properties and literally just closed on a home that I intend to use as a MTR.  So, the dilemma is what to do.  I feel that selling is not a good idea.  However, what are some options for her to come up with her own down payment if she keeps it.  That is the bulk of the info, I am really open to all sorts of ideas and questions so I am just throwing it out there.  Hopefully  something lands that is right for this situation.  Thank you all in advance for your insight!

[Sarita Scherpereel]

Hi @Victoria Cocklin My concern is selling after a short time always looks like (to buyers) there's something wrong with the building. Or something you're running away from. Buyer's/buyer's agents always ask when it's been a short time under one owner. 

Putting those concerns aside, inventory is VERY low in Chicago. Bigger Pockets, Youtube, social media have made house hacking very popular and there is a high demand for it. It might be worth talking to a realtor about what it would cost to get out, what the area is yielding and if this is a good time to sell in the neighborhood you co-own in. Some areas of the city are in more demand than others. Also, where will she live next? Create a plan if you decide to sell that would obviously include where she wants to be next. It doesn't sound like you need to do a 1031 exchange. Ultimately, you won't really know what you want to do until you see numbers and what the trends are for this area of the city.