Selling my SFH rental to renters

[Marcus B Hsu]

My renter who has been living in my AZ property for over 7 years would like to purchase my SFH rental. Since i have quite a bit of equity on the home, i plan to do a 1031 exchange and buy something else. Both sides do not plan on using any realtors . Based on comps , house is between $380k-400k. Since they have been really good renters and have at times been some home improvements themselves without asking me to reimburse, what would be considered a reasonable and fair thing to do?

Would it be fair to say sell for $380k and as buyer, i'd pay for all closing cost? 

and/or take 3% off additionally since no realtors are involved?

[Marcus B Hsu]

Hi @Amil D.,

mainly because there's enough equity in it for me to purchase additional homes. i could do a cash out refi on it, but decided i might as well cash out and invest the money in a different area compared to where the house currently is.

Thx

Marcus