Should I sell townhome and pocket $125,000 or keep and rent out?

[Hollie Wells]

I’m newly married and am living in my husband’s home. I own an 1,800 sq foot townhome. If I sell it, I can pocket $130,000. Which means I could have money to purchase multiple properties.

If I keep it, I can rent it out for $1,600 a month. My note is $885.

Here’s the caveat...I just went 1099 with my job, so every lender I go to says I need 2 full years as a 1099, before they will cover a note. So, that really leaves my hands tied with buying any new property immediately.

What should I do?  

[Wayne Brooks]

Realize, assuming to bought it to live in it, and did do for st least 2 years, you have up til 3 years from the date you moved out to sell it cap gains free.