Sell or Hold ???

[Andy Lambert]

Here is my situation: I own a home in another state that my sister is currently living in, but she is looking into buying a home of her own. I am totally new to the real estate investing world, so new that I haven't even created an LLC yet (that is on my todo list for this week) or made my first deal.

I'm wondering if I should hold on to the house and rent it out, or just go ahead and sell, and take the proceeds to help fund a future deal.

Here are the particulars

1. ARV - $94K (zillow estimate "taken with a grain of salt")

2. Mortgage Balance - $58K

3. Assumable VA mortgage at 5.25%

4. Monthly payment - $590 PITI

So here are my dilemmas: If I hold it, I'm wondering if it is possible to transfer ownership to the LLC I will be creating, and if so what kind of legal obstacles I may incurr. Do I want the hassle of living 2 states away and having to deal with a rental property being this new to the game? Or is the wise move to just sell it and use the proceeds to fund a future deal?

Thanks

Andy L.