First World Problem Advice

[Eric Soloway]

So here goes my first ever Bigger Pockets post!  I'm a natural rambler so I'm sure @Brandon Turner and I could be friends :)

My wife and I recently found Bigger Pockets and are getting caught up on webinars and podcasts so thanks to all!  We own a few houses that we converted from our primary residences to rentals and because of good (Lucky) decisions, we are fortunate enough to have some great equity built up.  That leads me to our first world problem!!!

We want to sell our biggest home in hopes the cash flow can be improved by splitting it into 2-3 homes versus one. I bought it as a foreclosure using an FHA Section 203k loan and my father and I put some sweat equity in later for 163,000. It's worth around 309,900 but due to some bad luck (Carpet delivery had bad carpet so we had to wait again) we missed the window for back to school to list the house and it's been sitting on the market for a couple weeks with a ton of showings but no offers (Williamson County is one of the top public school districts in the country). The floor plan is a little goofy in that the laundry is upstairs because the kids make the laundry, but I fear we missed that market and more established folks don't want to go upstairs to do laundry which I get. That gets me to my catch 22.

My wife and I are hoping to get into VRBO world so we can enjoy and make more cash flow than we are currently making, but I'm wondering if we should put that off 18 months, rent out the property again and then reconvene at a better time or suck it up, lose a few thousand off the asking price and get moving on our goals...

Financials - We owe 143,000 on the house (refinanced to conventional from FHA right after the seasoning period), it rents for $1850, mortgage, taxes insurance, HOA is $956, we just sunk $11,000 into carpet, paint, landscaping, replaced a vanity to get it ready to sell and I fear renting we might have to redo a couple of those things. We don't have a property manager and repairs are minimal so we clear over $500 a month with repairs and Cap Ex costs factored in.

https://www.zillow.com/homedetails/2740-Nottingham...

Thanks for your advice and opinions in advance