Better to Sell or Rent?

[Brian Christel]

It's time to make the decision to sell or rent out my condo.

I plan on relocating in the next few months and my two options are:

1. Sell 

2. Rent it out (refi or heloc)

Bought Aug 2017:   128500

Renovations:           6000

Appraised in 2018: 185000

Overhead: 1350/month (Mortgage, ins, tax, HOA)

Potential Rent:         1700-1800/month

There are plans in the next few months to break ground on a new high-rise fifteen feet from the balcony of my unit which would completely block my view, a HUGE selling point for my building.

The new building next door will be a high end hotel with nice restaurants on the first floor so long-term it would be good for the area. 

Ideally I would rent out my condo, pull out the equity, and buy more real estate. But given the future development right next door I'm not sure if it would be better to sell (take the money and run) or rent it out (pull out the equity to buy more real estate, cashflow a few hundred/month, and hope the building next door doesn't drop the value of my condo). 

Any thoughts on the best course of action would be greatly appreciated!

[Jonathan Soto]

If you cash flow including all expenses, maintenance, cap ex and vacancy after the refi I would take cash out and rent it out and invest it on something else as well. Best of luck.