Selling Rental property

[Kyle Folmar]

I turned a primary residence into rental property when I moved from the Tacoma area. I currently have a mortgage of $1650, and collect $3200 with around 23 years left on the current mortgage. . We are looking to sell our property as it is over 20+ years, we no longer live in that area and it makes it difficult to manage without having property management involved. I am looking to sell this property and re-invest it into a new rental property where I am moving to in Arkansas. I feel like this is a good move as the equity I have built up and the amount we will receive will completely pay off the place we are looking for and have some more to look at reinvesting in another piece of property, on a loan. I am learning a lot through this process, as this is the first time I am selling a piece of property. However where we are looking that average rent there is significantly less. If we pay off the new piece of investment property, we can rent it for $900-$1100. There is significantly less income with the move, but with getting a second we may be able to make up the difference in The cash-flow. In the future I would like to have a portfolio of investment properties, maybe even look into having a larger multi-family investment property. Is this a smart move towards the end game? 

[Drew Sygit]

@Kyle Folmar how long since you moved out? 

If no more than 2 years ago, yYou may have a tax savings reason to sell.

Otherwise, what's your ROI on this property WITH a PMC and can you beat it with Arkansas properties?