Rent or Sell?

[Franz Fernanez]

Hi. I currently am renting my house in Illinois and moved out to Arizona. I still owe 145K on the mortgage with 15 years to go on a 20 year loan. It currently appraises at 260-270K, I am renting the property for $1500. After all the expenses, I have a negative cash flow of about $300. Would refinancing to a 30 year loan and building equity make sense? 

Thanks!

[John Powell]

DO you plan on moving back it IL? sounds like that was a personal house not an investment. I'd consider selling if you can break even. Use the money you are saving to intentionally invest. Investing by default is not normally a good strategy unless there is an outside factor that you haven't mentioned like big appreciation potential, family ties to the house Ect.