Should I sell a condo I'm currently losing money on?

[Zach Brewer]

Hello,

I bought a condo in 2004 that I lived in for 5 years and then moved out and kept it as a rental, mostly due to the fact that I was upside down on it after the market crash. I have been negative cash flow on it since then, even after refinancing in 2009. I have put about 10K into capital expenditure upgrades (new windows and HVAC) as well. I bought this with a zero down VA loan, so I don't really have any money into it (other than Cap Ex), and looking at projections it should work out over time. However right now I am probably close enough to even equity on it where I can sell it and walk away without having to pay much. Part of me just wants to ride it out. I've never had a problem with renting it or the landlord part of the equation. I am also interested in purchasing a good investment property and am afraid carrying this extra mortgage may hurt me. Anyone have any thoughts on this? I'm in Madison, WI.