Keeping it vs selling it, what to do

[Paul W.]

Hi folks, long term lurker, first time posting.  My question is pretty simple. My wife and I aren't sure if we should sell or keeping renting or first home w bought in Gilbert Az.

Part of the reason we are deciding  now is because if we sell in the next 6.months we don't have to pay capital gains tax.

The property is an A property, 3/2 townhouse, 2000 sf. Comps are easily going for 205-210, we owe about 145.

Current rent is 1400, all expenses  are about 1000 including  hoa. 

I ultimately  would like to stick it out for the lomg term investment but stuff happens and th market isstrong here. 

Second  question, say I have about 5k saved in te realty fund from.cash flow, what do you all do wit this money. I know it's good to have an emergency fun if some sorts but are you guya putting it back into the principal  ir saving for the next down payment ?

Thanks in advancedlooking forward to hearing what others have done .