Should I sell my rental property

[Nicole S.]

Hi community,

It's been a while since I've been here. Question for you wizards of real estate!!!

I have 5 rentals in Cleveland, one of them a house. It's been cash flowing well. We don't love being landlords, but it has been stable. Out of the blue, The renter has offered me an all cash offer, 3% commission, no inspections.

Here are the numbers:

- Bought for $92,000 in 2017

- Repairs for 10K

- Offer is $145,000

- Rents for $1150, $500 mortgage/insurance

If we don't sell the renter is moving out and there's probably 10-15K of reno's we need to do. Tax implication on sale per our accountant is $18,000. I don't have a 1031 lined up bc I wasn't expecting it!

I've considered selling and 1031 for another property, but oh, the interest rates.

I could use the money to pay off two other properties, saving $220/month in interest.

Thoughts? Ideas?

Nicole