Should I Sell House Or Rent it Out?

[William Kolb]

Hi. I am in a unique situation. Around 2005, I was seriously injured and medically retired from the U.S. Department of Defense. After I became able to walk again, I bought an RV and begin touring the country. I visited friends on the way. To make a long story short, I ended up buying a HUD foreclosure for a widowed friend and her 8 year old son to live in while they got their lives together.

I now have a house I have no need for. My total cost for the house, including capital improvemrnts is $95k. Similar houses on the street rent for $1,400 per month.

I could sell the house for around $140,000 or I could rent it out, with a property manager handling it and continue my travels.

I like the idea of holding on to the house.

Advice would be appreciated?