Should I sell or keep my long-term rental when it isn't cash flowing?? Please HELP

[Ryan Johnston]

I bought this property as a brand-new turn-key property in December 2022 (3bed & 2bath-1544 sq-ft). Lived in the house for 1 year. For most of the 1st year I house hacked and rented out my 2 spare bedrooms, for 6 months that covered the mortgage. After that I moved out and did Airbnb for 4-6 months but struggled keeping up with it not living in the same city anymore, so I switched it to a long-term rental. I'm having to offer this as a fully furnished house to be able to charge a premium on rent just to get close to the mortgage. I've kept it rented out consistently, however, I'm negative $75-$150 in cash flow a month. Mortgage rates have kept increasing as well, that's why I put a range on negative cash flow. Thanks for reading!

[Scott Johnson]

What's up, brother? I stick to Robert Kiyosaki's teachings. If it's not positively cash flowing, it's not an asset. so what's the point of holding it? Also, after a year, the mortgage hasn't been paid down by much, especially if it's a 30 year mortgage.

The only challenge you may run into is if you purchased it using a low or no money down mortgage option like FHA or VA lending. At that point, you may have to come out of pocket broker commissions unless you sell it FSBO (which is always an option if you have the time to dedicate to it).