Unsure Beginnings (Flip? Rent?)

[Johnathan Sanders]

I have a paid off home that I don't know what I should do with. I know each situation is different, and what's best for me may not be what would be best for others. I'm just still on the fence as to which way I should go with my situation.

Main info: House is around 750sq ft, 2br/1ba in Columbia, TN built in the 1990s. I've been living there for 10 years, but I'm presently having to relocate to assist my mother in Hermitage, TN. I've been unemployed since July 2018, with no benefits, so my cash on hand is super low. I'm trying to make a decision between:

1. Sell the house as is (repairs needed [flooring, AC, closet/drywall work, kitchen/bath refresh would be nice])

2. Get some temporary job, and fix the house prior to selling (Not exactly desirable to me, as my mother is high risk on Covid19 and I'd rather not take the chance of going in public more than necessary.) or

3. Do minimal repairs to make rent-ready, and have it at least for now as my first rental.

I've been speaking with a few folks over the last few months, but I just haven't been able to figure out what would make best sense for me. I'm not particularly interested in being in that market, as Nashville is what I truly consider home, but I am not certain that even with sale of this place that I would have enough to begin investing closer to Nashville. I presently have an abundance of time, and a house owned free and clear so it sounds to me like I'm in a decent position to get SOMETHING going but the potential options are endless, and decisions are made more difficult with more choices. Any guidance on suggested direction to head would be greatly appreciated.

[Luka Milicevic]

@Johnathan Sanders

If it was me....

I'm going with option 3.

No point in selling and trying to buy in Nashville when you are in a market that is way better for rental numbers and you already have a property there.

What I would do is get a first position HELOC on the property and have that money available to future deals