Your thoughts on my first investment

[Johnathan Kwon]

Hi Everyone, 

This is my first post, I'm new here, and just wanted your input on my investment. 

Bought a waterfront property for 330K in 11/2020 with a complete reno job. It is 2600 sqft on an acre lot outside of Charleston SC. Total investment to include down payment/closing costs is 175K (40K in contractor mistakes), and the house would've sold/appraised for 650-725K (multiple realtor projections). 

More details:

--5bd, 2 full bath, 2 half bath converted into 5bd, 3 full bath, 1 half bath

--1960s home, complete gut, open floor plan, new electric, plumbing, HVAC, kitchen, baths, etc. completely new house: higher end upgrades with everything tile, custom built ins, etc.  

--mortgage is 1400/month, renting for 3100/month

--I have included Cap ex, management fees, etc. NOI is roughly 8k per year

My idea was that property values are so high right now that finding another property for the right price would be difficult: that alongside the long-term appreciation value for a waterfront property.  I am also talking to my CPA of possible tax benefits for the year for renting (versus selling). Having a finished property that generates positive cash flow was the safer bet to hold onto. Sell versus rent? your thoughts? If I sold, it would've been at 15%. 

Is there benefits/advantages to selling a newly renovated home versus having it rented out a few years then selling? My realtor implied that there was since it is hard to gauge the value of projects like these. 

Thanks everyone.