Testing the Market to see if I should sell

[Roy Gutierrez]

Hi guys,

I have a house in Michigan (Oakland County), I'm getting decent rent $1,100 and was planning to have this house rented for as long as possible but with my parents getting older (they're in South Floria) I've been thinking of maybe investing in a property there (probably a vacation rental). Lately I've been hearing that the prices in my area have gone up higher than expected (Oakland County MI) and it's a total seller's market.

Here's my dilemma, the house is right at the exit ramp from the highway and getting out of the house is a hassle, when leaving the house usually you have to back up carefully to avoid all the cars exiting the highway, basically it's the house with the worse spot to get the car out of the house, my thinking was it should still be easy to rent because it's close to Royal Oak (hot city) and some young professionals will live with it because of the location and it's not their investment to stay there for a long time and that turned out to be true, had no problems finding a renter. The problem is that if I decide to sell and the parking situation turns out to be to much of an issue then I might have to sell for less than expected (or not sell and go back to renting) but this experiment could potentially cost me 3-4k because I lose my renter, need to fix up the place and find a new one.

Anyone else have this dilemma? I put the house in Zillow on Make Me Move yesterday but I'm about to take it down because I don't want anyone passing by the house and asking my renters if they're selling, not good. Talked to my realtor, she says it's a hot market and my price should sell but she would have to get into the house to give me a better estimate and because of the parking issue sellers might hardball to get discounts, it's just a complicated issue. My last option is to forget about selling and keep milking the cow.

How do you guys handle this type of issue? Any advice? 

Thank you!