Rent or sell rental property

[David Thompson]

I have a property that is a great starter  home, well taken care of, but is not updated…IE small bathroom and  small closets in  bedrooms which makes it a bit difficult to find renters. I’ve owned it for just over a year and I could flip it and make a small amount of money, but prices and interest rates are high on single family homes with low inventory and I like the home. The local market has flipped from not enough rentals to enough due to the building boom of apartments since the pandemic. Currently it’s not rented and I haven’t had tons of interest in it. Thinking I should maybe sell and start over by finding a newer property or  spend $5000 and remodel to bring it up to date. Not sure….thoughts  or suggestions?
I’m fairly new to the rental world and still have lots to learn. 
Thanks!

-Dave