FSBO or put house on market
I am planning to sell a rental property in a good area. The tenant is moving out by the end of May. I was contacted by a friend of the tenant for purchasing the house. He wanted to offer $250k as is conditions. The comps are running between $275k-$280k, but it will take some updating to get there. I am wondering whether it is a good idea to just sell the house to the friend of the tenant, or should I put the house on the market. This is the first time I am considering FSBO, so any advice and comments are greatly appreciated!
I am hoping to do 1031 exchange for this property. I don't know if it makes any difference in regards to whether to do FSBO.