Hold and Rent OR Sell and Invest Out of State

[Forrest Brown]

Hey Everyone! Here is the lowdown:

Purchased an investment single family home 2bed/1bath in North Park that was well under market value due to repairs needed and being built in 1928. 

Purchase Price: $585k with a $100k down payment on a 2.7% interest rate. 

Remodel Costs $115k. It was definitely not the most judicious remodel but, a great learning experience. 

Now, we owe about $470k and the zestimate is $760k without the remodel factored in. 

It currently rents out at about a $100 cash flow including expenses. 

I want to buy out of state next but I'm debating if I should sell the home and do a 1031 exchange on another investment property? Or hold and rent as long as possible? Thanks ahead of time!