Selling for the equity Vs Keeping for the monthly rent

[Ron K.]

Hello everyone,

Here's my dilemma.  I own this nice 3/2 SF, it's in a very nice neighborhood.  House worth about 450 and my mtg bal is at 95 so there is a nice size equity here.  My tenant just left $2,300 a month and I could probably rent it for $2,500 - $2,700.  I know that rule of thumb saying if rent is 0.5% of house value it's time to sell.  I'm interested in building up my cash reserve for new opportunities rather than the monthly income.  Would like to sell and wonder if that's the right thing to do.   

Thanks,

Ron