Rent the house or sell?

[William McSeveney]

Hey everyone. Would love some advice and input on my situation. 

I purchased a house for about $227,000 in Wenatchee, WA, and over the past two years I have slowly updated the home with the intention to one day rent it out. Two bedroom, 1 bath, right next to a hospital and between the high school and middle school. Between updates and new appliances, I put just shy of $20k into the place. My mortgage balance is 176k, and my monthly payment is $1148. 

I accepted a job in a different state and have to make a decision on the house - rent or sell. I am working with a property manager I like and we originally had rent at $1750 - then the virus hit which had slowed down the interest a bit. $1750, after withholding expenses and fees would be a comfortable cashflow after analysis. But we've lowered the ask for rent to $1550. It has some traction people, but no lease yet. At the $1550 price, I would likely break even after my rental analysis. It has sat vacant now for 30 days. I'd like to not pay the May mortgage on the house. 

Although the house is in a great location, I do have concerns about the long term with the property. I believe it will need a new roof within the next 7 years. There is no sprinkler system, and it is a very high maintenance lawn/yard (I'd have to trust the tenants to make sure it doesn't die). It's older radiant heat system. Previous owner put in some funky washer/dryer venting system that may not be up to code (according to a contractor). 

My other option is sell the house. I spoke with a realtor and she believed it could sell anywhere between $252,000 and $270,000. I believe at the lower end I would likely lose some money, after my rehab costs, and at the higher end I'd come out about even. Then I would have the cash to invest in a cheaper market where I am moving to.

Anyone been in a similar situation? Would love to hear another persons thoughts, recommendations, advice.

Thank you!