To sell or not to sell?

[Holly Nielsen]

Hello! This is my first post here and I am excited to hear everyone's advice.

My husband is graduating from medical school in Ohio. We thought we would be staying here for residency as well, but it turns out we have to move to Florida. We own a townhouse in Cleveland with a rental suite. We can cash flow about $350 from the property if we keep it and rent it out (including property management). 

My husband thinks we should sell it, but I think the numbers justify keeping it. In order to sell, it would cost us 2/3 of the equity we have built. What would you do?

[Brent Coombs]

@Holly Nielsen, what we don't know is: how much is $350/m as a proportion of your outlay into it? ie. What's its ROI as a percentage? Also, how did you build that current equity? If it's purely/mainly from extra money you've put into it, then that hardly counts, right?

Lastly, how will your buying ambitions in Florida be hampered if you don't sell? Only answers that relate to your bottom line will be useful for "bigger pockets"! Welcome to BP...